The Internal Revenue Service has recently issued the
2007 mileage rates. The IRS took the unusual step to issue higher mileage rates for
September – December 2005 due to the recent run-up in gas prices. Between August
and January there are three different mileage rates -- participants should be careful in using the
proper rate for the appropriate dates and usage.
| Mileage Rates |
Effective Dates |
| Vehicle Usage |
1/1/-8/31/05 |
9/1-12/31/05 |
1/1/06 |
1/1/07 |
| Business |
.405 |
.485 |
.445 |
.485 |
Medical/Moving
(FSA/HRA/HSA) |
.15 |
.22 |
.18 |
.20 |
| Charitable |
.14 |
.14 |
.14 |
.14 |
