Is it correct that the S.M.R. is 50.5 cents for the first six months of 2007 and 58.5 cents for the rest of then year?
Reply to this post | Go to top
Unfortunately, it looks that way.
No. That's the rate for 2008.
Agree. 50.5 cents for first half, 58.5 cents second half unless Congress changes it again.
http://www.irs.gov/taxpros/article/0,,id=156624,00.html
2007: 48.5 per IR-2006-168
2008
January 1 - June 30: 50.5 per IR-2007-192
July 1 - December 31: 58.5 per IR-2008-82
The above referenced site has a handy chart that includes charitable and medical/moving and special things like Katrina; goes back to 1997.
Printer-friendly format
= Quickfinder Team Member
