Standard mileage rate increases July 1

Standard mileage rate increases July 1

By Froehling Anderson | Jun 16, 2022

The IRS has announced that the standard mileage rate for business travel will increase by 4 cents to 62.5 cents per mile. This adjustment will be effective July 1, 2022. The rate increase is in response to higher gas prices.

Read the press release from the IRS here.

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