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Archive for December 18th, 2015

2016 IRS Mileage Rates

Posted by taxguru on December 18, 2015

IRS has released its standard mileage rates for 2016, down from the 2015 rates due to the lower fuel prices.  These are useful for employee reimbursement plans.

2016 Standard Mileage Rates for Business, Medical and Moving Announced

Beginning on Jan. 1, 2016, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

  • 54 cents per mile for business miles driven, down from 57.5 cents for 2015
  • 19 cents per mile driven for medical or moving purposes, down from 23 cents for 2015
  • 14 cents per mile driven in service of charitable organizations

Posted in IRS, Vehicles | Comments Off on 2016 IRS Mileage Rates