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IRS Lowers Standard Mileage Rate for 2020

Jan 07, 2020

Effective Jan. 1, 2020, the optional standard mileage rate used in deducting the costs of operating an automobile for business is 57.5 cents per mile, down one-half cent from 2019, the IRS announced Dec. 31 in Notice 2020-05. This is the first time the rate has fallen in three years. (Read More)

Article By: Stephen Miller, CEBS

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