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, …

Mileage Rates Reimbursement Rates to Decrease by Half a Cent on January 1, 2014

Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: -56 cents per mile for business miles driven -23.5 cents per mile driven for medical or moving purposes -14 cents per mile driven in service of charitable organizations The business, medical, and …