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Increase in Mileage Rates

June 22, 2022 4:59 AM | Anonymous

The IRS recently announced that for the final six months of the year (starting 7/1/2022), the business mileage rate will rise to 62.5 cents per mile, four cents higher than the previously announced rate. In announcing the change, IRS Commissioner Rettig said, "We are aware a number of unusual factors have come into play involving fuel costs, and we are taking this special step to help taxpayers, businesses and others who use this rate.” The IRS, however, did not adjust the volunteer mileage rate of 14 cents/mile because it is fixed in statute and has not changed since 1997.

Late last month saw the re-introduction of the DELIVER Act of 2022 (H.R. 7872/S. 4291) by Reps. Morelle (D-NY) and Fitzpatrick (R-PA), and Sens. King and Cornyn. See King news release. The legislation would only apply to meal deliveries to seniors, a much narrower focus than the bill, H.R. 7432.


 
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