Washington (Oct. 16, 2003) -- The Internal Revenue Service has reduced a record-keeping burden for many taxpayers by allowing businesses that use no more than four vehicles at the same time for business purposes to use the standard mileage rate, starting in 2004. Currently, those using more than one vehicle at a time cannot use the standard rate at all, leaving them to track the actual expenses for each vehicle.
"With this change, more than 800,000 businesses will become eligible to use the standard mileage rate," said IRS Commissioner Mark W. Everson. "This reflects our ongoing interest in reducing the burden for businesses to comply with the tax laws."
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