IRS Increases Standard Business Mileage Rate for 2022

In the final weeks of 2021, the IRS increased the standard business mileage rate for 2022. For 2021, the rate was 56 cents per mile. For 2022, the rate is increased by two and a half cents, to a new rate of 58.5 cents per mile. The standard mileage rate for business use is based on an annual study of the fixed and variable costs of operating an automobile.

The standard medical expense rate increased from 16 cents per mile for 2021 to 18 cents per mile for 2022. The charitable mileage rate remains fixed at the statutory rate of 14 cents per mile. This rate can only be changed by Congressional action.

You can view the full IRS announcement on mileage rates by clicking here.

You can also find more key federal tax limits, rates, and other data in ECFA’s 2022 Church and Nonprofit Tax Financial Guide. This resource is recently published and ready for free download here.

This text is provided with the understanding that ECFA is not rendering legal, accounting, or other professional advice or service. Professional advice on specific issues should be sought from an accountant, lawyer, or other professional.