In 2008, record-high gas prices caused the feds to raise the mileage reimbursement rate mid-year. But don’t expect a repeat performance this time around.
The IRS doesn’t plan on increasing the standard mileage reimbursement rate.
That’s what IRS official Ligeia Donis told payroll industry representatives during a May 12 conference call.
Donis offered the following explanation for the agency’s decision not to raise the mileage rates: “Changing the rate in middle of the year could present logistical challenges, and if the price of gas dropped, there would be more complications.”
The current mileage reimbursement rates are:
- 51 cents per mile for business miles
- 19 cents per mile for medical or moving purposes, and
- 14 cents per mile for charitable organizations.
Readers, what do you think about the fed’s decision not to raise the mileage reimbursement rates? Let us know in the Comments section.