Mid-Year Optional Standard Mileage Rate Change in 2022

On June 9, 2022, the IRS announced an increase in the optional standard mileage rate for the final six months of 2022 as follows:

• 62.5 cents for every mile of business travel driven (up four cents from the rate effective at the start of the year);
• 22 cents per mile for medical care or moving purposes (up four cents from the rate effective at the start of the year); and
• The 14-cents-per-mile rate for charitable organizations remains unchanged, as it is set by statute.

Mid-year increases in the optional mileage rates are rare; however, due to the recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2022.  The IRS normally updates the mileage rates once a year in the fall for the next calendar year.  For travel from January 1 through June 30, 2022, the rates are set forth in Notice 2022-03.

The last time the IRS made a mid-year increase in the standard rates was in 2011.
 

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