Effective July 1, 2011, the IRS has increased the optional standard mileage rates in recognition of recent gasoline price increases. IRS Commissioner Doug Shulman commented that “This year’s increased gas prices are having a major impact on individual Americans. The IRS is adjusting the standard mileage rates to better reflect the recent increase in gas prices,” “We are taking this step so the reimbursement rate will be fair to taxpayers,” said Shulman.
The 4.5-cent increase applies to business, medical or moving miles driven from July 1, 2011 through December 31, 2011. The rate for providing services for charitable organizations is set by statute, not the IRS, and therefore remains at 14 cents per mile.
For Business Related Travel: | 55.5 cents per mile |
For Medical or Moving Purposes: | 23.5 cents per mile |
For Charitable Use: | 14 cents per mile |