The IRS Standard Mileage rate has been adjusted lower for 2016 due to the reduction in gasoline prices. In 2015 it was 57.5¢ per mile, now it has been reduced to 54¢.
* 54 cents per mile for business miles driven.
* 19 cents per mile driven for medical or moving purposes.
* 14 cents per mile driven in service of charitable organizations
For more information, please review the IRS announcement:
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Accounts Payable Professionals Group
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