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IRS Hikes Mileage for 2H 2022

 Car mileageThe Internal Revenue Service is hiking standard mileage for business travel for the second half of 2022. An increase to 62.5 cents per mile will be in effect starting July 1.

The IRS this week noted the rise in gasoline prices in the decision to raise the rate 4 cents per mile from 58.6 cents per mile for the first half of the year. The agency said it is the first time it has issued a mid-year change since 2011

The medical/moving rate will rise from 18 cent per mile through June 30 to 22 cents per mile for the second half ot he. Year. 

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