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Tuesday, September 13, 2005

Mileage Rates Updated

Due to recent fuel price increases, the IRS announced that optional standard mileage rates for expenses incurred on or after 9/1/2005 are increased: for business use, 48.5¢ per mile; and for medical or moving use, 22¢ per mile. Rev Proc 2004-64, 2004-49 IRB 898 , is modified. ( Ann. 2005-71, 2005-41 IRB ).
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