IRS Increases Mileage Reimbursement Rate
Effective January 1, 2008, the Internal Revenue Service is increasing the standard mileage rate used by many employers to reimburse their employees for business use of a car (which includes vans, pickups and panel trucks) – the rate will increase to 50.5 cents per mile, up from 48.5 cents in 2007. Click here to view the IRS press release on this topic. Note that employers who reimburse mileage at the IRS rate are presumed by California's Labor Commissioner to have appropriately reimbursed their employees for expenses incurred in the use of their vehicles.
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