Search results
For the final 6 months of 2022, the standard mileage rate for business travel will be 62.5 cents per mile, up 4 cents from the rate effective at the start of the year.
1 sty 2024 · The following lists the Privately Owned Vehicle (POV) reimbursement rates for automobiles, motorcycles, and airplanes.
Mileage Rate; 2023: 65.5 cents: 2022: 62.5 cents per mile (July 1 – Dec. 31, 2022) 58.5 cents per mile (Jan. 1 – June 30, 2022) 2021: 56 cents: Mileage rates are determined by IRS and go into effect on January 1 of each year.
• Effective July 1 – December 31, 2022, the automobile mileage reimbursement rate is 62.5 cents per mile. • Effective January 1 – June 30, 2022, the automobile mileage reimbursement rate is 58.5 cents per mile. Grantees may claim reimbursement retroactively for this rate for the effective dates.
The IRS today issued an advance version of Notice 2022-3 providing the standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving purposes in 2022.
business standard mileage rate treated as depreciation is 25 cents per mile for 2018, 26 cents per mile for 2019, 27 cents per mile for 2020, 26 cents per mile for 2021, and 26 cents per mile for 2022.
What are the adjusted midyear CY 2022 POV mileage reimbursement rates and the standard mileage rate for moving purposes? a. Pursuant to FTR §301-10.303, the POA rate will be 62.5 cents per mile, the privately owned airplane rate will be $1.81 per mile, and the privately owned motorcycle rate will be 60.5 cents per mile. b.