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The Internal Revenue Service and Treasury Department have increased the mileage allowance for deductible travel expenses from 40.5 cents per mile to 48.5 cents a mile for the final four months of 2005. “People are entitled to deduct the real cost of operating a vehicle,” said IRS Commissioner…
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The Internal Revenue Service and Treasury Department have increased the mileage allowance for deductible travel expenses from 40.5 cents per mile to 48.5 cents a mile for the final four months of 2005. “People are entitled to deduct the real cost of operating a vehicle,” said IRS Commissioner Mark W. Everson.
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