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Wednesday, January 13, 2016

2016 IRS Standard Mileage rate

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:

Robert Ruhno
Founder & Social Media Manager
Accounts Payable Professionals Group

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