Midyear Mileage Rate Changes Offer Relief, Likely To Cause Confusion
After months of speculation and roller coaster oil prices, the IRS finally announced an increase in the optional standard mileage rates. The IRS generally only updates mileage rates once a year. However, with gas prices still on the rise, the IRS made an adjustment midyear. Doug Shulman said, about the increase: This year’s increased gas prices…