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September 01, 2020 1:41pm
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IRS boosts standard mileage rate deduction to 62.5 cents per mile, a 4 cent hike, as gas soars to more than $5 a gallon

The IRS will boost the standard mileage rate by 4 cents, to 62.5 cents per mile, starting on July 1. The midyear change is due to soaring gas prices.
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