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Old Tue Nov 07, 2006, 09:22am
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IRS announces 2007 standard mileage rates Rates take effect Jan. 1, 2007

IRS announces 2007 standard mileage rates Rates take effect Jan. 1, 2007

The IRS released the 2007 optional standard mileage rates. The rates are used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning Jan. 1, 2007, the standard mileage rates for the use of a car

(including vans, pickups or panel trucks) will be:

- 48.5 cents per mile for business miles driven; compared to 44.5 cents in 2006

- 20 cents per mile driven for medical or moving purposes; compared to
18 in 2006

- 14 cents per mile driven in service to a charitable organization, set
by statute

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