The new gas mileage reimbursement rate and how it applies to business vehicles and fuel effiicient options for tax credits
The gas mileage reimbursement rate has been raised to 58.5 cents a mile for the last six months of 2008, as announced by the Internal Revenue Service. The increase, says the IRS, was meant to alleviate the impact of rising gas prices on the income of American taxpayers and vehicle owners and drivers. The new optional rate will replace the old 50.5 rate used prior to the announcement.
