Summary
Responding to this year's elevated gas prices, the Internal Revenue Service increased the amount of tax deductions drivers can take for filling up their private vehicles for business use.
The rare midyear hike, up 4.5 cents to 55.5 cents per gallon, is effective starting Friday and lasts until the end of the year, the IRS announced last week.See the full content of this document
Extract
Irs Bumps Up Mileage Deduction
Small-business owners, in particular, will welcome the change because they are the primary users in business o...
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