Gas Prices Cause IRS To Update Mileage Rate Mid-Year For 2011

Zhenya Grinshteyn —  June 30, 2011 — 5 Comments

While the IRS normally updates mileage rates once at the beginning of a year, rising gas prices have had enough of an impact for them to reconsider.  Starting July 1st and lasting until the end of the 2011 year on December 31st, any use of a vehicle for business will allow you a deductible of $0.555 per mile driven.

All new Expensify accounts created after the mileage rate change takes effect will already be updated with the new rate.  For everyone with an existing account we ask you to please update your rate by going to the Settings -> Preferences page and clicking [change] next to your miles unit.

The reason we don’t update all past accounts automatically is because we’ve found that a great many of you are using a rate set by your company or a source other than the IRS.

Read more about what prompted the mileage rate change on the IRS press release.

5 responses to Gas Prices Cause IRS To Update Mileage Rate Mid-Year For 2011

  1. 

    Hi Zhenya,
    This is a good example of a setting which needs to be maintained at the policy level rather than at the individual level — for the very same reason that you mention in your post — a great many people use rates set by their company. Maybe you could consider this for the future?

  2. 
    Robert M. Anderson July 2, 2011 at 2:43 pm

    How do I get free scanning of reciepts by giving you new prospects emails? Can’t find how to do it anywhere on your site.

  3. 

    Yep, that’s good feedback to hear. We’re going to be doing general polish and adding more company controls to policies. All of this is a bit too early in development for me give an accurate estimate of when the changes will happen. Thanks for your patience and sorry for the inconvenience in the mean time!

    Zhenya

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