Reminder to Employers - Change to Mileage Reimbursement Rates For 2014

For those employers who have not checked or forgot about the change in mileage reimbursement rates, the IRS announced the optional standard mileage reimbursement rates have changed for 2014. Beginning January 1, 2014, the reimbursement rates decreased one-half cent from the current rates in effect, and are as follows:

• 56 cents per mile for business miles driven;
• 23.5 cents per mile driven for medical or moving purposes; and
• 14 cents per mile driven in service of charitable organizations (same as current rate in effect).

For those employers that use the standard IRS rates for mileage reimbursement, make sure to change your expense reimbursement policies.