16 Sep IRS Mileage Allotment

Pastors and church treasurers will want to note that the Internal Revenue Service and Treasury Department has announced an increase to the optional standard mileage rates for the final four months of 2005. The rate will increase to 48.5 cents a mile for all business miles driven between September 1 and December 31, 2005. This is an increase of 8 cents from the 40.5 cent rate in effect for the first eight months of 2005.