Gas Prices Prompt IRS to Increase Mileage Rate

Gas Prices Prompt IRS to Increase Mileage Rate

The Internal Revenue Service and U.S. Treasury Department have increased the mileage rate for business travel because of the increase in gasoline prices. The change, from $.405 to $.485, affects all business-related mileage, effective Sept. 1 through the remaining four months of the year.

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