On November 24, 2008, the Internal Revenue Service announced a reduction to the optional standard mileage rates for 2009.

For the year 2009, the optional standard mileage rate will reduce from 58.5 cents to 55 cents per mile. Taxpayers have the option of using the optional standard mileage rate to calculate deductible costs of operating an automobile for business purposes.

The rate for computing the deductible medical or moving costs have also reduced 24 cents per mile, however the rate for providing services for charitable organizations has remained unchanged at 14 cents per mile. For further information you can go to the IRS announcement at: http://www.irs.gov/newsroom/article/0,,id=200505,00.html

On December 3, 2009, the Internal Revenue Service announced a reduction to the optional standard mileage rates for 2010.

For the year 2010, the optional standard mileage rate will reduce from 55 cents to 50 cents per mile. Taxpayers have the option of using the optional standard mileage rate to calculate deductible costs of operating an automobile for business purposes.

The rate for computing the deductible medical or moving costs have also reduced to 16.5 cents per mile, however the rate for providing services for charitable organizations has remained unchanged at 14 cents per mile. For further information you can go to the IRS announcement at: http://www.irs.gov/newsroom/article/0,,id=216048,00.html

Yesterday, the Internal Revenue Service announced an increase to mileage reimbursements beginning July 1, 2011.  For business miles driven, the rate will increase from 51 cents per mile to 55.5 cents per mile. With the costs of fuel combined with those associated in maintenance of vehicles, the IRS made this special adjustment to help tax payers. 

In addition to business miles, reimbursement for medical and moving mileage expenses were also increased from 19 cents per mile to 23.5 cents per mile.  For more information, view the IRS update.