What are the mileage allowances for 2007?

Roberto · #1 (**permalink**) 06-22-2007, 03:07 PM

Dear Taxguru,

Could you please provide me with IRS rules for the mileage allowance for 2007 for both business and charitable purposes. Thank you!

TaxGuru · #2 (**permalink**) 06-30-2007, 01:29 PM

The IRS has generously raised the Mileage allowance's for both business and medical for 2007. The Prior year amounts are shown in brackets.

Mileage Allowance for 2007

Business 48.5 Cents/Mile (44.5 Cents/Mile)
Charitable 14.0 Cents/Mile (Unchanged from 2006)
Medical/ Moving 20.0 Cents/Mile (18 Cents/Mile)