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
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Individuals:
Do you currently owe money to the IRS?
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Businesses:
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Has the IRS notified you of an error in previous years returns?
Has the IRS threatened to cease assets to satisfy back taxes?
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2010 Standard Mileage Rates
December 21, 2009
Rev. Proc. 2009-54
Section 1. Purpose
This revenue procedure updated Rev. Proc. 2008-72, 2008-50 I.R.B. 1286, and provides optional standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes. This revene procedure also provides rules under which the amount of ordinary and necessary expenses of local travel or transportation away from home that are paid or incurred by an employee are deemed substantiated under 1.274-5 of the Income Tax Regulations if a payor (an employer, it's agent, or a third party) provides a mileage allowance under a reimbursement or other expense allowance arrangement. The substantiation methods described in this revenue procedure are not mandatory. A taxpayer may use actual allowable expense amounts to substantiate expenses if the taxpayer maintaines adequate records or other sufficient evidence. The Internal Revenue Service prospectively adjustes the business and medical and moving standard mileage rates annually (to the extent warranted).
