(NewsNation) — If you drive a car, like the more than 200 million other Americans, you could catch a break — a tax break, that is. The Internal Revenue Service offers many tax deduction options for ...

The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 72.5 cents per mile driven, up 2.5 cents from 2025.

One fast tax tip to review before filing your 2024 federal income tax return is the IRS mileage rate. It's a much-talked-about deduction, but it's also a tax break that stalls out for plenty of ...

The optional standard mileage rate for automobiles driven for business will increase 3 cents in 2025, the Internal Revenue Service said Thursday, but the mileage rates for vehicles used for other ...