Decreased IRS Mileage Reimbursement Rates for 2016

The Internal Revenue Service issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. The rates show a significant decrease from last year's rates. Beginning on Jan. 1, 2016, the standard mileage rates for the use of a car (also vans, …