IRS Announces New Mileage Reimbursement Rate
Yesterday the IRS announced the 2014 optional standard mileage reimbursement rates. Beginning January 1, 2014, they decrease one-half cent from the current rates in effect, and are as follows:
- 56 cents per mile for business miles driven;
- 23.5 cents per mile driven for medical or moving purposes; and
- 14 cents per mile driven in service of charitable organizations (same as current rate in effect).
Employers using the standard IRS rates for mileage reimbursement purposes should adjust their expense reimbursement policies accordingly.