News
ShareIRS raises mileage rate
07/01/08
Due to rising gas prices, the Internal Revenue Service has announced a revised business mileage rate for the second half of 2008. Therefore, University employees who use their personal vehicles for University business will be reimbursed at the new rate of 58.5 cents per mile. This new rate is effective for mileage incurred beginning July 1, 2008. The University will also follow the revised IRS rate of 27 cents per mile for moving expense reimbursements. Remember that the IRS and the University require appropriate documentation for all business expenses. For mileage, this includes the date, beginning and ending destination, number of miles and business purpose. Also note that the IRS considers the miles between home and work commuting miles and therefore not business mileage. Call X-3199 if you have questions. You can find the updated Business & Travel Report under Operational Business Forms.
