IRS Makes mid-year adjustment

The In­ternal Revenue Service is increasing the tax de­duction motorists can take for using private ve­hicles for business, a rare midyear move sparked by high gas prices.

Starting July 1, motor­ists who use their per­sonal vehicles for busi­ness will be able to de­duct 551/2 cents a mile from their taxable in­come, the agency an­nounced Thursday. That's an increase of 4 1/2 cents from the first six months of the year.

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