Jun 16, 2022
Business mileage rate rises again July 1, 2022
If you reimburse employees for business mileage, be aware that the Internal Revenue Service (IRS) announced a mid-year increase of four cents, resulting in a standard mileage rate of 62.5 cents per mile, effective July 1, 2022. The standard rate from January 1, 2022, through June 30, 2022, is 58.5 cents per mile. Any amount you pay above the standard rate is taxable to the employee.
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