The business mileage reimbursement rate is an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction, for Federal income tax purposes under the Internal Revenue Code, at 26 U.S.C. § 162, for the business use of a vehicle. Under the law, the taxpayer for each year is generally entitled to deduct either the actual expense amount, or an amount computed using the standard mileage rate, whichever is greater.
TAX FORM 1040 LINK
MILEAGE RATES
January–June 2011 51.0 cents/mile
July–Dec 2011 55.5 cents/mile
2012 55.5 cents/mile
FORM 2106 TAX FORM LINK
FORM 2106 EZ TAX FORM LINK
