IRS Increases Mileage Rates as of July 1, 2011
The Internal Revenue Service has increased the standard mileage rates for business and for medical/moving purposes. (The mileage rate for charitable purposes remains 14 cents per mile.)
Effective July 1-December 31, 2011, the standard business mileage rate has increased from 51 cents per mile to 55.5 cents per mile. The medical/moving mileage rate has increased from 19 to 23.5 cents per mile. The charitable mileage rate, "set by statute," remains 14 cents per mile. See the announcement at the IRS web site for details (http://www.irs.gov/newsroom/article/0,,id=240903,00.html?portlet=6).
Mileage Rate Changes
|
Purpose |
Rates 1/1 through 6/30/11 |
Rates 7/1 through 12/31/11 |
|
Business |
51 |
55.5 |
|
Medical/Moving |
19 |
23.5 |
|
Charitable |
14 |
14 |
