In Announcement 2008-63 dated June 23, 2008, the Internal Revenue Service announced an increase in the optional standard mileage rates. The new rate of 58.5 cents per mile begins July 1. The previous rate of 50.5 cents per mile ends on June 30.

Medical or moving expenses will increase from 19 cents per mile will also increase to 27 cents per mile on July 1.

Charitable mileage remains at 14 cents per mile as that rate is set by statute and cannot be adjusted by the Service.

Please be advised that, based on current IRS rules and standards, the advice contained herein is not intended to be used, nor can it be used, for the avoidance of any tax penalty that the IRS should assess related to this matter.

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