IRS Mileage Rate Increase For Second-Half Of 2022
Nancy McClelland, LLC
JULY 9, 2022
Effective July 1, the IRS standard mileage rate — the amount that can be deducted per-mile in lieu of reporting actual costs — is increasing by 4-cents, to $0.65/mile, per Annoucement 2022-13. The adjustment is being made in recognition of recent increases in the cost of gasoline. Normally, the adjustment is made annually, but in special cases such as this, the IRS Commissioner will make an exception.
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