FEBRUARY 2004
Q. Has
the IRS changed the standard auto mileage rate for 2004?
A.Guidelines
for reimbursement of car expenses is contained in the new IRS Publication
15-B, Employer's Tax Guide to Fringe Benefits.
The guide, which is effective January 2004 and applies to benefits provided
this year, reports that the new standard mileage rate for the use of
a car for business purposes is 37.5 cents per mile for all business miles
driven, up to 36 cents per mile in 2003.
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