Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Retirement Plan Services Analyst

Jordan & Associates Retirement Services
(Santa Rosa CA)

Jordan & Associates Retirement Services logo

Director of Member Services, Member/ Employer Experience

Orange County Employees Retirement System
(Santa Ana CA)

Orange County Employees Retirement System logo

Senior Defined Contribution Account Manager

Nova 401(k) Associates
(Remote)

Nova 401(k) Associates logo

DC Plan Administrator

Heritage Pension Advisors, Inc.
(Commack NY)

Heritage Pension Advisors, Inc. logo

Regional VP of Sales

The Retirement Plan Company
(Remote / AZ / CA / CO / MN / MO / OR / WA)

The Retirement Plan Company logo

DB/DC Administrator

Primark Benefits
(Remote / San Mateo CA)

Primark Benefits logo

401(k) Plan Administrator

Abacus Retirement Solutions, LLC
(Albuquerque NM)

Abacus Retirement Solutions, LLC logo

Retirement and Executive Compensation Consultant

Retirement Learning Center
(Remote / Brainerd MN)

Retirement Learning Center logo

Sr. Retirement Plan Administrator

Tycor Benefit Administrators, Inc.
(PA)

Tycor Benefit Administrators, Inc. logo

Retirement Plan Administrator

Nicholas Pension Consultants
(Remote)

Nicholas Pension Consultants logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon

IRS News Release IR-2002-100


WASHINGTON (September 18, 2002) -- The Internal Revenue Service today announced the optional standard mileage rates to use for 2003 in computing the deductible costs of operating an automobile for business, charitable, medical or moving expense purposes.

The amounts for the various deductible costs for use of a car will be effective January 1, 2003, and are as follows:

  • The standard mileage rate for the use of a car for business purposes is 36 cents a mile for all business miles driven, down from 36.5 cents a mile in 2002.

  • The standard mileage rate for the use of a car when giving services to a charitable organization remains at 14 cents a mile.

  • The standard mileage rate for the use of a car for medical reasons is 12 cents a mile, down from 13 cents a mile in 2002.

  • The standard mileage rate to use when computing deductible moving expenses is 12 cents a mile, down from 13 cents a mile in 2002.

The standard mileage rates for business, medical and moving purposes are based on an annual study of the fixed and variable costs of operating an automobile. The primary reason for the mileage rate decreases is the decline in fuel prices during the study period, which ended on June 30. An independent contractor conducted the study on behalf of the IRS. The charitable standard mileage rate is set by law.

Revenue Procedure 2002-61 contains additional information on these standard mileage rates. It will appear in Internal Revenue Bulletin 2002-39, dated September 30, 2002. It will also be available through the "Advance Notice for Tax Professionals" section of the IRS Web site at www.irs.gov.


Online at: ftp://ftp.irs.ustreas.gov/pub/irs-news/ir02-100.pdf
© 2022 BenefitsLink.com, Inc.