IRS Announces 2010 Standard Mileage Rates
Standard Mileage Rate Reduced to 50 Cents for 2010

The Internal Revenue Service on December 3, 2009 issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes, according to a news release (IR-2009-111).

Beginning Jan. 1, 2010, the standard mileage rates for the use of a car, van, pickup or panel trucks, will be 50 cents per mile for business miles driven, down from 55 cents; 16.5 cents per mile driven for medical or moving purposes, down from 24 cents; and 14 cents per mile driven in service of charitable organizations, which remains unchanged. IRS said the new rates for business, medical, and moving purposes are slightly lower than rates than last year, which reflect generally lower transportation costs compared to a year ago.