2022 Mileage Reimbursement Rates

Today the IRS announced the mileage reimbursement rates for 2022. Beginning on January 1, 2022, the standard mileage rates for the use of a car, van or truck will be:
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• 58.5 cents per mile for business miles driven, up 2.5 cents from 2021
• 18 cents per mile for medical or moving purposes, up 2 cents from 2021
• 14 cents per mile for miles driven in service of charitable organizations

Besides the standard mileage rates, Notice 2022-03, posted on IRS.gov, also includes the basis reduction amounts for those choosing the business standard mileage rate, as well as the maximum standard automobile cost that may be used in computing an allowance under a fixed and variable rate plan. Find more business tax tips and other tax information here.
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