2015 IRS Mileage Rates
Posted by taxguru on December 11, 2014
IRS has released the standard mileage rates for 2015. This is handy to know ahead of next year because many employers use these rates for reimbursing employees for business miles driven on the job.
Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be:
- 57.5 cents per mile for business miles driven, up from 56 cents in 2014
- 23 cents per mile driven for medical or moving purposes, down half a cent from 2014
- 14 cents per mile driven in service of charitable organizations
If oil prices continue to drop, there is a good chance that IRS will lower the standard rate for business miles at some point during 2015, giving us another year with multiple rates for different parts of the year.
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