IRS announces announced that it is raising the IRS Standard Mileage Rate to 58.5 cents per mile NEW
[6/24/2008] - Recognizing the skyrocketing gas prices consumers are facing at the pumps, the Internal Revenue Service announced yesterday that it is raising the standard mileage deductible rate by 8 cents to 58.5 cents a mile, a rare midyear adjustment by the federal agency.
The new optional rate goes into effect July 1 and is scheduled through the end of the year. Workers who use their vehicles for business can use the standard mileage rate or deduct their actual expenses on tax returns. The federal government and many private employers use the IRS rate when reimbursing workers who use their cars on the job.
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Click here to download the Authorization for the Fraternal Fund.
[6/2/2008] - The attached pdf needs to be downloaded, signed and sent back to the Union hall to authorize the $.05 hourly deduction to be used towards Local Union 47's picnics, outings, tournaments, banquets. link