IRS ANNOUNCES STANDARD MILEAGE RATE FOR 2022
On December 17, 2021, the IRS announced it’s annual optional standard mileage rate for 2022. The standard mileage rate is used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. The standard mileage rate for business use is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs. The charitable rate is set by statute.
Beginning January 1, 2022, the optional standard mileage rates are:
- 58.5 cents per mile driven for business use
- 18 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations
The business mileage rate increased 2.5 cents for business travel and 2 cents for medical and certain moving expense from the rates for 2021.
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.
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