07/08/2011

IRS Increases Mileage Rate to 55.5 Cents Per Mile

The Internal Revenue Service, IRS, has increased the "optional standard mileage rates for the final six months of 2011," according to a news release posted on the IRS website. 

The new rate is 55.5¢ a mile for all business miles driven between July 1 and December 31, 2011. The 2012 Compensation Guidelines for both Lay Rostered Leaders and Ordained Clergy suggests the congregations, "Pay a cents-per-mile reimbursement for actual business miles driven at the current IRS rate when the pastor uses his or her automobile (Check the IRS website at www.irs.gov for the latest mileage reimbursement rate.)"  Please make note of this change for your records.

Click HERE to read the complete news release.