BC Advantage - 2005 Issue 12
IRS Announces 2006 Standard Mileage Rates
Subscribe or sign in to view the full article.
Article Overview
This IRS update explains the 2006 optional standard mileage rates and the related temporary 2005 Katrina-specific adjustments for charitable travel. It is relevant to tax professionals, employers, reimbursement administrators, and others who need a high-level understanding of mileage-based deduction and reimbursement guidance. The article also references an IRS revenue procedure that provides additional information and limitations.
Why This Topic Matters
Mileage-rate updates affect deductible travel costs, reimbursement practices, and year-to-year tax administration for individuals and organizations that track automobile use for business, medical, moving, or charitable purposes.
What You Will Learn
- How the IRS frames the 2006 optional standard mileage rates
- What categories of travel are covered by the mileage-rate update
- How the article situates the 2005 Katrina-related temporary mileage adjustments
- What additional IRS guidance is referenced for mileage-rate use
Who Should Read This
- Tax professionals
- Billing and reimbursement staff
- Employers and payroll administrators
- Charitable organizations
- Individuals tracking deductible vehicle use
Subscribe or sign in to view the full article.
Quick, Current, Complete - www.findacode.com