IRS Increases Mileage Rates



Due to rising gas prices, the mileage rate will increase by eight cents to 58.5 cents a mile for all business miles driven from July 1 through Dec. 31, 2008. The new rate for computing deductible medical or moving expenses will also increase by eight cents to 27 cents a mile. The rate for providing services for charitable organizations is set by statute, not the IRS, and remains at 14 cents a mile. See news release IR-2008-82 and Announcement 2008-63.

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Stimulus Payments Summer Update

IRS launches a summer push to reach retirees and disabled veterans who have yet to file for their payments. For more information and a state-by-state summary of the number of potential recipients, go to news release IR-2008-80.

Check the Economic Stimulus Payments Information Center on IRS.gov for updates, also available in Spanish.