The IRS increases mileage rate for the last six months of 2022.
In recognition of gasoline price increases in the first half of 2022, on June
9, 2022 the Internal Revenue Service announced an increase in the
optional standard mileage rate for the last six months of 2022. The optional
standard mileage rate is used to calculate the deductible costs of operating
an automobile for business and certain other purposes.
For the final six months of 2022, the standard mileage rate for business
travel will be 62.5 cents per mile, up 4 cents. The new rate for deductible
medical or moving expenses (available for active-duty members of the
military) will be 22 cents, up 4 cents. These new rates became effective
July 1, 2022. The 14 cents per mile rate for charitable organizations