Reimbursement for Mileage Increases
Wednesday, July 2, 2008
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DURHAM, NC -- The Internal Revenue Service recently announced an increase in the standard mileage reimbursement rates for the final six months of 2008.
The rate will increase to 58.5 cents per mile for all business miles driven from July 1 through Dec. 31, 2008. The former rate was 50.5 cents per mile.
The IRS, which normally updates the mileage rates once a year, made this special adjustment in recognition of recent gasoline price increases.
Duke reimburses employees for business-related mileage when it is necessary for employees to drive their personal vehicles. Employees wishing to request reimbursement for business-related travel must submit a Miscellaneous Reimbursement Form.
Forms should be submitted only after reaching a minimum of $25 in expenses. For more information, including instructions for submitting the form and a mileage log, visit http://www.finsvc.duke.edu/gap/m200-021.html.
