On December 9, 2011, the Internal Revenue Service announced that the 2012 optional standard mileage rate for all business miles driven will remain at 55.5 cents per mile. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate in effect for the first six months of 2011 was 51 cent per mile, and was increased to 55.5 cents per mile this past July. The optional business standard mileage rate is used to compute the deductible costs of operating an automobile for business use instead of tracking the actual costs of operating an automobile. The rate for providing services for charitable organizations, which is set by statute, also remains at 14 cents per mile.
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IRS mileage rates for 2012 applicable to exempt organizations remain unchanged
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