12/3/09 - The IRS has announced a new mileage rate for 2010. 

As of January 1, 2010, the IRS mileage rate is reduced to $0.50/mile.  Amounts paid over the official IRS rate are treated as compensation and are subject to payroll taxes.

For more information about the 2010 IRS mileage rate, visit the IRS website at www.irs.gov and search for 2010 Mileage Rate in the news section, or click here. 

*   *   *