What is the official IRS monthly car allowance. Is it still $600?

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What is the official IRS monthly car allowance. Is it still $600?

The IRS increased the mileage allowance in 2007, I was wondering if they increased the car allownca as well.

2007-11-06 01:04:16 · 2 answers · asked by michele h 1 in Business & Finance ➔ Taxes ➔ United States

2 answers

There is no official IRS 'monthly allowance' for an automobile. The allowance of which you speak is based upon miles driven, at 48.5 cents per mile. Beyond that, there is no additional allowance.

2007-11-06 02:53:53 · answer #1 · answered by acermill 7 · 1⤊ 0⤋

48.5 cents per mile plus parking and tolls.

2007-11-06 09:25:49 · answer #2 · answered by Anonymous · 0⤊ 0⤋