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IRS Increases Business Mileage Rates to 58.5 Cents through December
On June 23rd, the Internal Revenue Service announced an increase in the optional standard mileage rates for the final six months of 2008.
The optional standard rates to calculate the deductible costs of operating an automobile for business will be 58.5 cents per mile from July 1, 2008 through December 31, 2008 - an increase of eight cents.
Please note that this is an optional standard mileage rate and there is no requirement that businesses reimburse their employees at this same rate, however, reimbursement at and up to this amount is tax free to employees. | 
