IRS Acknowledges High Cost of Fuel
The IRS has issued a special midyear increase to the 2022 standard mileage rates due to the rising cost of gasoline. Effective July 1, 2022, there will be an increase of 4 cents for business and medical/moving mileage.
Please make a note of these effective dates and applicable mileage rates:
January 1 – June 30, 2022
- 58.5 cents per mile driven for business use;
- 18 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces; and
- 14 cents per mile driven in service of charitable organizations.
July 1 – December 31, 2022
- 62.5 cents per mile (4 cent increase) driven for business use;
- 22 cents per mile (4 cent increase) driven for medical or moving purposes for qualified active-duty members of the Armed Forces; and
- 14 cents per mile (no change) driven in service of charitable organizations.
