A R Santoro Consulting, LLC

November 29, 2007

2008 Standard Mileage Rates Released

The IRS issued Rev. Proc. 2007-70 with the 2008 optional standard mileage rates used for calculating the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning January 1, 2008, the standard mileage rates for the use of a car (including vans, pickups, or panel trucks) will be:

•50.5 cents per mile for business miles driven;

•19 cents per mile driven for medical or moving purposes; and

•14 cents per mile driven in service of charitable organizations.

The full text of Rev. Proc. 2007-70

Individuals:

Do you currently owe money to the IRS?

Are you receiving notices from the IRS of past due taxes?

Have you been notified of an IRS audit?

Is the IRS threatening to place a lien against your property or wages?

Have you not filed taxes for more than two years?

Businesses:

Do you owe payroll taxes?

Have you not filed taxes for more than two years?

Have you been notified of an IRS audit?

Has the IRS notified you of an error in previous years returns?

Has the IRS threatened to cease assets to satisfy back taxes?

If the answer to any of these questions is YES, Anthony R. Santoro Consulting provides precise, correct, and complete solutions to any tax problem that you may be experiencing.

Through 33 years of experience with the Internal Revenue Service (IRS), Anthony Santoro, President of the firm, will provide expert advise and knowledgeable representation in resolving your tax problems while also minimizing your tax obligations.