In recognition of rising gas prices, the IRS has announced a rare increase to the optional standard mileage rate for July-December 2022. The new rate will be 62.5 cents/mile, an increase of 4 cents/mile from the rate at the start of the year. (Travel from January-June 2022 will remain at the original rates.)

The 14 cents/mile rate for charitable organizations also remains unchanged.

An app, like MileIQ, makes it easy to track and report your business mileage at tax time.

For more information about other rate changes, please read the IRS bulletin.