IRS issues 2022 standard mileage rates




>> News Listing

Feb 01, 2022

IRS Notice 2022-03 stated the optional standard mileage rates for business use of a vehicle would increase as of January 1, 2022. For business use of a car, van, pickup truck, or panel truck, the rate for 2022 is now 58.5 cents per mile, up from 56 cents per mile in 2021. Taxpayers can use the optional standard mileage rates to calculate the deductible costs of operating an automobile.

2022 Mileage Rates.jpg

Driving to obtain medical care, or certain limited moving purposes for members of the armed forces, may be deducted at 18 cents per mile, which is two cents higher than for 2021.

The rate for service to a charitable organization is unchanged, set by statute at 14 cents per mile (Sec. 170(i)).

The portion of the business standard mileage rate that is treated as depreciation is 26 cents per mile for 2022, the same as for 2021.



Tags: mileage
Category: Featured