Accounts Payable Professionals: The IRS Standard Mileage rate has been adjusted 1 cent higher for 2018.

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Monday, December 18, 2017

The IRS Standard Mileage rate has been adjusted 1 cent higher for 2018.

Due to the increased costs, the 2018 IRS Mileage rate will be 54.5¢ (Up from 53.5¢ per mile in 2017).

💰 54.5¢ for every mile of business travel driven, up 1 cent from the rate for 2017.
💰 18¢ per mile driven for medical or moving purposes, up 1 cent from the rate for 2017.
💰 14¢ per mile that is driven the service of charitable organizations.

For more information, please review the IRS announcement:
IRS.GOV