IRS Announces Special Increase To Mileage Rate
June 28, 2022
If you use the Internal Revenue Service’s (IRS) mileage rate to reimburse employees, you should be aware that the IRS has announced a special increase to its standard mileage rate for the remainder of 2022. This new rate, 62.5 cents per mile, is effective on July 1, 2022. The IRS normally updates mileage rates once a year in the fall for the next calendar year but has made an additional increase this year due to rising gasoline prices.
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