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Monday, September 12, 2005

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LATE BREAKING NEWS
GAS PRICES PUSH 1ST-EVER MID-YR MILEAGE-RATE CHANGE:

The IRS respondedto the steep cost of gasoline by announcing on Friday an unusual midyearchange to the mileage rate used for business-expense deductions. Thestandard mileage-rate deduction is jumping to 48.5 cents a mile forbusiness miles driven from Sept 1 through Dec 31 from the 40.5 cent ratethat will remain in effect for the 1st 8-months of the year, the agencysaid. Baltimore Sun<http://www.baltimoresun.com/news/local/bal-te.bz.irs10sep10,1,7791928.story?coll=bal-local-headlines&ctrack=1&cset=true>

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