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IRS Raises Mileage Rate 3 Cents

Highway 2022 The standard mileage rate for businesses is increasing by 3 cent per mile for 2023, the Internal Revenue Service said recently.

The rate is rising to  65.5 cents per mile this year for business use, up 3 cents per miles from the mid-year 2022 increase. The rates apply to electric and hybrid-electric automobiles, as well as gasoline and diesel-powered vehicles.

For qualified active-duty Armed Forces members, the rate for medical or moving purposes is 22 cent per mile, which was the rate set for the second half of 2022. The rate for driving for charitable purposes stays at the statutory rate of 14 cents per mile.

 

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