Updated Tuesday, July 22, 2014 as of 3:30 PM ET

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IRS Taps Gas Pedal Lightly

Donald Jay Korn

With gas prices flat, the IRS has announced a 1-cent increase in standard mileage rates for the business use of a vehicle. Thus, that rate will be 56.5 cents per mile for business miles driven in 2013, up from 55.5 cents a miles this year.

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