For those employees who have not check or forgot about the change in mileage reimbursement rates, the IRS announced the optional standard mileage reimbursement rates have changed for 2020. Beginning January 1, 2020, the reimbursement rates have decreased, and are as follows:
- 57.5 cents per mile for business miles driven (down from the 2019 rate of 58 cents);
- 17 cents per mile for medical or moving purposes (down from the 2019 rate of 20 cents);
- 14 cents per mile driven in service of charitable organizations (the same as the 2019 rate).
For those employers that use the standard IRS rates for mileage reimbursements, make sure to change your expense reimbursement policies.
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