The Internal Revenue Service announced an increase in the standard mileage rates when people use their vehicles for business use. The standard mileage deduction rose to 67 cents per mile ...

When we flip the calendar into the New Year, drivers will be looking at a new, slightly higher standard mileage rate for a deduction for business use on their 2024 federal income tax return.

Jon Gerhardson, of Chicopee, filed suit on Nov. 5 against Springfield Pie Inc., a franchisee that owns and operates several ...

The IRS has issued the 2015 optional standard mileage allowance rates to claim a tax deduction for driving an automobile for business, charitable, medical, or moving purposes. The IRS has issued ...

In response to rapidly rising gas prices, the IRS took the unusual step of increasing the standard mileage rates in the middle of the year (they're normally adjusted for inflation only once per year).

However, on rare occasions, the IRS might adjust rates mid-year to account for inflation or other economic factors. This most recently happened in 2022 and 2011. However, the standard mileage rate ...

If a personal vehicle is used for the convenience of the employee, the employee will be reimbursed at one-half the standard mileage reimbursement rate for which a deduction is allowed for travel under ...