When gas prices rose in 2008, one of the few bits of good news was that the federal government was bumping up the business mileage deduction to 55 cents per mile. Now that gas prices have stabilized in 2009, the Internal Revenue Service has reportedly decided to cut back on some of its generosity. According to Wallet Pop, the new per mile rate is 50 cents, a nine percent decline from a year ago. The decrease will likely do little to the casual business traveler, but high mileage sales types and
The idea of having Uncle Sam come after you for back taxes is an unpleasant thought for any American. It's another story altogether when the feds are the ones doling out the Benjamins, though, as Ford is learning. The Blue Oval is officially suing the government for $445 million in overpaid taxes between 1983 and 1989 and again from 1992 to 1994. Ford wasn't overly excited about filing a lawsuit against the IRS, but due to the overwhelming amount of money involved and the fact that Ford can use
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