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IRS changes mileage reimbursement rates, rules.

Publication: Business Travel News
Publication Date: 27-OCT-03
Format: Online - approximately 653 words
Delivery: Immediate Online Access

Article Excerpt
The Internal Revenue Service on Jan. 1 will raise to 37.5 cents per mile the reimbursable mileage rate the agency offers businesses to determine per-mile deductible costs for drivers using personal automobiles for business purposes. The new rate, an increase of 1.5 cents, also comes with a new rule, which IRS predicted will increase the number of businesses eligible to use the rate for reimbursement. While the present rules state that individuals using "more than one vehicle at a time cannot use the standard rate," IRS is reversing the policy, extending it to apply to individuals who...

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