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2016 Standard Mileage Rates Announced

Dec. 17.  The IRS is cutting the reimbursement rate for business mileage, from 57.5 cents in 2015 to 54 cents next year.
Beginning on Jan. 1, 2016, the standard mileage rates for cars, vans, pickups, and panel trucks will be:

  • 54 cents per mile for business miles driven, down from 57.5 cents for 2015
  • 19 cents per mile driven for medical or moving purposes, down from 23 cents for 2015
  • 14 cents per mile driven in service of charitable organizations

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile.  The rate for medical and moving purposes is based on the variable costs.
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.


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