IRS Announces Midyear Increase to Standard Mileage Rates
June 30, 2022
Normally the IRS adjusts the standard mileage rates at the beginning of each year, but occasionally they announce changes at other times to correspond with current costs.
The new amounts as compared to early 2022 are as follows:
|
Standard Rate for |
On or after July 1, 2022 |
Previous 2022 rate |
|
Business Use |
62.5 cents per mile |
58.5 cents per mile |
|
Medical Use |
22 cents per mile |
18 cents per mile |
|
Charitable Use |
14 cents per mile |
14 cents per mile |
Transportation expenses that are deductible medical expenses under Internal Revenue Code §213 generally can be reimbursed on a tax-free basis by a health FSA, HRA, or HSA. The applicable reimbursement rate is the one in effect when the expense was incurred.
