IRS increases mileage rate for remainder of 2022
IR-2022-124, June 9, 2022
WASHINGTON–The Internal Revenue Service today announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes.
For the final 6 months of 2022, the standard mileage rate for business travel will be $.625/mile, up 4 cents from the rate effective a the start of the year. The new rate for deductible medical or moving expenses (available for active duty members of the military) will be $.22/mile for the remainder of 2022, up 4 cents from the rate effective at the start of 2022. These new rates become effective July 1, 2022.
To read the entire bulletin, click this link: IRS increases mileage rate for remainder of 2022 _ Internal Revenue Service.
2022 Standard Mileage Rates for Business, Medical and Moving Announced
IR-2021-251, December 17, 2021
WASHINGTON — The Internal Revenue Service issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2022, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 58.5 cents per mile for business miles driven, up 2.5 cents from 2021
- 18 cents per mile driven for medical or moving purposes, up 2 cents from the rate for 2021
- 14 cents per mile driven in service of charitable organizations
You can read the whole bulletin at https://www.irs.gov/newsroom/irs-issues-standard-mileage-rates-for-2022