Update: New Mileage Rates - Effective July 2008

Update posted on June 30 2008 Back to Blog

The Treasury Dept. has a revised mileage rate effective July 1, 2008.

Here are the new rates:

• Business 58.5 cents per mile (compared to 50.5 cents for January-June 2008)
• Charitable 14.0 cents per mile (no change)
• Medical and Moving 27.0 cents per mile (compared to 19.0 cents for January-June 2008)

IRS Circular 230 Disclosure - As required by IRS rules, although this written communication may address certain tax issues, the issuer of this document did not intend nor write the advice to be used to avoid any penalty imposed by a taxing authority, nor may the user/recipient of this document use this document’s written tax advice for that purpose. Nor may it be used to promote, market or recommend to another party any transaction or matter addressed herein.