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WASHINGTON — The Internal Revenue Service today issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Last updated: Apr 11, 2024. The following lists the Privately Owned Vehicle (POV) reimbursement rates for automobiles, motorcycles, and airplanes.
The standard mileage rates for 2023 are: Self-employed and business: 65.5 cents/mile. Charities: 14 cents/mile. Medical: 22 cents/mile. Moving (military only): 22 cents/mile. Find out when you can deduct vehicle mileage.
The 2024 IRS standard mileage rates are 67 cents per mile for every business mile driven, 14 cents per mile for charity and 21 cents per mile for moving or medical.
The IRS has announced that the 2023 business standard mileage rate is increasing to 65.5 cents, up 3 cents from the 2022 midyear adjustment of 62.5 cents. The change took effect Jan. 1.
At the end of last year, the Internal Revenue Service published the new mileage rates for 2024. New standard mileage rates are: 67 cents per mile for business purposes. 21 cents per mile for medical and military moving purposes. 14 cents per mile for charitable purposes.
The IRS today issued an advance version of Notice 2023-3 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 2023. Notice 2023-3 [PDF 105 KB] provides that beginning January 1, 2023, the standard mileage rates for the use of a