IRS LOWERS STANDARD MILEAGE RATES

Posted on December 4, 2009 by Daniel Burnick

On December 3, the IRS announced that it was lowering the standard mileage rates for 2010.  Citing lower transportation costs, the new rates, effective January 1, 2010 are as follows:

50 cents per mile for business-related use (down from 55 cents per mile in 2009)

16.5 cents per mile for medical or relocation -related purposes (down from 24 cents in 2009)

14 cents per mile for use to support a charity (unchanged from 2009).

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