Newsflash from IRS News release IR-2022-124, June 9, 2022

To reflect rising cost of gas prices, the IRS has made mid-year adjustments for mileage rates:

Mileage Rate Changes

Business

  • 1/1/22-6/30/22 58.5 cents per mile
  • 7/1/22-12/31/22 62.5 cents per mile

Medical/ Moving for active military

  • 1/1/22-6/30/22 18 cents per mile
  • 7/1/22-12/31/22 22 cents per mile

Charitable

  • 1/1/22-6/30/12 14 cents per mile
  • 7/1/22-12/31/22 14 cents per mile

Source: https://www.irs.gov/newsroom/irs-increases-mileage-rate-for-remainder-of-2022

Categories: Tax Chat