Posts Tagged ‘IRS mileage deduction’

IRS Raises Mileage Deduction a Whopping 8 Cents

Posted on: June 23rd, 2008 by Kenneth Long No Comments

The Internal Revenue Service announced that the mileage deduction will increase from 50.5 to 58.5 cents beginning July 1, 2008. This increase is an adjustment to “better reflect the real cost of operating an automobile,” according to IRS Commissioner Doug Shulman. (more…)

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