The Internal Revenue Service has boosted its optional standard mileage rates to 58.5 cents -- an eight-cent increase that Gannett won't even come close to matching. "I've always told myself that it would be undignified to accept a mileage rate less than half the standard rate,'' a reader told me. "Now that the IRS has increased its rate, I must now decide how principled I really am."
Taxpayers may use the rate to calculate deductible costs of operating a car for business and other purposes. "Rising gas prices are having a major impact on individual Americans," IRS chief Doug Shulman said. "Given the increase in prices, the IRS is adjusting the standard mileage rates to better reflect the real cost of operating an automobile. We want the reimbursement rate to be fair to taxpayers."
Earlier: Publishers getting free gas from company pump? and Blogger says new Cincy mileage rate 'immoral'
What's your mileage reimbursement rate? When's the last time it went up -- and by how much? Leave a note, in the comments section, below. Or use this link to e-mail your reply; see Tipsters Anonymous Policy in the green sidebar, upper right.