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For the final six months of 2022, the standard mileage rate for business travel was 62.5 cents per mile, up 4 cents from the rate effective at the start of 2022. The new rate was implemented to ...
The business mileage reimbursement rate is an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction, for Federal income tax purposes under the Internal Revenue Code, at 26 U.S.C. § 162, for the business use of a vehicle. Under the law, the taxpayer for each year is generally ...
The standard federal mileage reimbursement rate has changed over the years. Here’s how the rates have changed for business purposes: ... First half of 2022 — 58.5 cents per mile. 2021 — 56 ...
The United States federal budget for fiscal year 2022 ran from October 1, 2021, to September 30, 2022. The government was initially funded through a series of four temporary continuing resolutions . The final funding package was passed as an omnibus spending bill , the Consolidated Appropriations Act, 2022 .
An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
The IRS standard mileage rate is a key benchmark used by the federal government and many businesses to reimburse employees for out-of ... 2022, and it had hit as high as $5.027 a gallon on June 14 ...
The company has said it will introduce a port. disruption surcharge on all cargo moving to and. from the U.S. East Coast and Gulf Coast. terminals from Oct. 21 ranging from $1,500 to. $3,780 a ...
The Federal Maritime Commission (FMC) is an independent agency of the United States government that regulates U.S. oceanborne transportation and the United States Merchant Marine. [1] It is chaired by Louis E. Sola