IRS HAS NO CURRENT PLANS TO INCREASE STANDARD MILEAGE RATES

Normally, when gas prices go through the roof, the IRS does a midyear increase to the standard mileage rate, but apparently not this year. During its May 12th payroll industry conference call, an IRS spokesperson said that IRS has no current plans to increase the standard mileage rate of 51¢ per mile for business miles driven, despite the big boost in gasoline prices.