In a somewhat unique turn of events, following the nationwide rise in gas prices, the IRS announced a mid year change in mileage reimbursement rates. Beginning July 1, 2022, the reimbursement rates have increased, and are as follows:
- 62.5 cents per mile for business miles driven (up 4 cents from the current rate);
- 22 cents per mile for medical or moving purposes (up 4 cents from the current rate);
- 14 cents per mile driven in service of charitable organizations (same as the current rate in effect).
For those employers that use the standard IRS rate for mileage reimbursements, make sure to change your expense reimbursement policies, given this mid year change.
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