Support for LAist comes from
Become a sponsor
Made of L.A.
Donate
Stay Connected

LAist is part of Southern California Public Radio, a member-supported public media network. For the latest national news from NPR and our live radio broadcast, visit LAist.com/radio

Keep up with our local independent news

The Top 5 newsletter catches you up with LA’s top 5 stories in just 3 minutes.
Donate

Share This

This is an archival story that predates current editorial management.

This archival content was written, edited, and published prior to LAist's acquisition by its current owner, Southern California Public Radio ("SCPR"). Content, such as language choice and subject matter, in archival articles therefore may not align with SCPR's current editorial standards. To learn more about those standards and why we make this distinction, please click here.

News

IRS Increases Mileage Rate 8-Cents

By  Zach Behrens
Published Jun 23, 2008 11:00 PM
Our June member drive is live: protect this resource!
Right now, we need your help during our short June member drive to keep the local news you read here every day going. This has been a challenging year, but with your help, we can get one step closer to closing our budget gap. Today, put a dollar value on the trustworthy reporting you rely on all year long. We can't hold those in power accountable and uplift voices from the community without your partnership.

As gas prices hit all-time highs, so is the Internal Revenue Service's mileage rate standard, which is currently 50.5 cents. Next Tuesday, it will be raised to 58.5 cents, a move that is usually saved for the Fall, but like with Hurricane Katrina when gas prices spiked, the IRS made a mid-year adjustment, which will last through the end of the year. Current gas prices in Los Angeles have been averaging out to a steady $4.621 for a gallon of regular gas.

Most Read
Best of LAist