IRS Increases Standard Mileage Rate for Remainder of Year
In response to rising gasoline prices, the Internal Revenue Service has taken the step of boosting the optional standard mileage rate by eight cents, to 48.5 cents per mile, for the final four months of 2005 (effective from Sept. 1, 2005 through Dec. 31, 2005). This is the rate most businesses use to reimburse employees […]