What is the IRS mileage rate for 2006 and for 2007?
Q.What is the IRS mileage rate for 2006 and for 2007?
A.44 cents per mile for the year 2006. The rates for 2007 have not yet been published. With the rise in gasoline prices, would you settle for $1.50 For 2006 the rate is 44,5 cents per mile. For 2007, Congress has not yet said IRS Lowers Mileage Rate to 44.5 Cents for 2006 The IRS has announced that the standard business mileage rate for transportation expenses paid or incurred beginning January 1, 2006 will be 44.5 cents per mile, down from the 48.5 cents per mile rate in effect for the final four months of 2005. The business mileage rate for the first eight months of 2005 was 40.5 cents per mile. The IRS took the extraordinary step of temporarily increasing the standard mileage rates in the aftermath of Hurricane Katrina in response to a sharp increase in gas prices. "The 2006 mileage rates reflect that gas prices have dropped," I looked up what the standard mileage rate is for schedule C vehicle expenses. It is 44.5 cents. So there! Straight from the IRS
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