|
WASHINGTON DC - The IRS has released the standard mileage rates for 2007. The rate has been increased to 48.5 cents per mile starting January 1, 2007. This rate applies to employees and self-employed individuals, as well as reimbursements from employers, for business use of vehicles.
The standard rate for medical and moving mileage will be increased to 20 cents per mile, and the charitable mileage rate, other than activities related to Hurricane Katrina relief, will remain at 14 cents per mile.
|
