OCR Text |
Show IRS announces new mileage rate for 1991 The Internal Revenue Service has announced the standard mileage rate for business use of an automobile for 1991. The new rate will be 27.5 cents a mile-up from the 26 cents a mile used in 1990. The 27.5 cents a mile takes into consideration the new five cents per gallon increase in the federal fuel tax and recent gas price increases. For charitable activities, the standard mileage rate is provided by statute and will remain at 12 cents a mile in 1991. For medical and moving expense purposes, the standard stan-dard mileage rate for 1991 will stay at nine cents a mile. The special standard mileage rate for business use of an automobile by rural mail carriers will be 41.25 cents per mile for 1991. |