Wednesday, June 29, 2011

IRS Increases Mileage Rate to 55.5 Cents per Mile

For the second time in three years, the IRS is making a mid-year increase in the deduction rates for miles driven for business and medical/moving. It's a nice little healthy jump too! For July 1st through December 31st:

Business rate is now 55.5 cents/mile (up from 51)
Medical/Moving rate is now 23.5 cents/mile (up from 19)
Charity rate remains the same at 14 cents/mile

See the IRS site for the official statement:
http://www.irs.gov/newsroom/article/0,,id=240903,00.html?portlet=6


4 comments:

Carol said...

Any chance you're working on an update to the iPhone app to reflect the new rates?

Anonymous said...

YES! In fact, it was submitted to Apple last week. And today we got notice that it is "In Review", so it should be available within the next 24-72 hours.

Anonymous said...

Can you do a UK version so I don't have to keep changing from the US rates?

Michael said...

Using a AT&T Atrix, recently updated to Android 2.3.4 Milebug no longer utilizes the full screen as it used to. It is now only 2/3 of the screen.It still works but everything is much smaller. Also, any chance there will be an update to reflect new rates?