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IRS Increases Standard Business Mileage Rate to 65.5 Cents Per Mile for 2023

January 18, 2023 6:23 AM | Anonymous
Last week, the Internal Revenue Service issued a notice raising the standard business mileage rate to 65.5 cents per mile for 2023 (up from 62.5 cents per mile for the last six months of 2022). Many nonprofits use this rate when reimbursing their employees for work-related driving. The volunteer mileage rate – the amount that is tax-deductible when your nonprofit's volunteers drive on behalf of your organization – remains at 14 cents per mile and can only be changed by Congress.
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