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IRS Raises Standard Mileage Rate for Second Half of 2022

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The IRS announced that it is increasing the optional standard mileage rate for the second half of 2022.

Effective July 1, 2022, the standard mileage rate for business travel will increase by four cents per mile, to 62.5 cents per mile.

The medical mileage rate will also increase by four cents, to 22.0 cents per mile, as will the moving mileage rate available to members of the Armed Forces of the United States on active duty who move pursuant to a military order.

The charitable mileage rate of 14.0 cents per mile did not change, as it is set by statute.

The IRS rarely makes midyear increases to the optional mileage rates, and the last such update was in 2011. In the announcement, IRS Commissioner Chuck Rettig said the adjustment was made to better reflect recent changes in fuel prices.

We have updated our 2022 Key Federal Tax Figures table to reflect this change, and you can download or print it here. Please note, however, that you should continue to use the existing 2022 rate through June 30, 2022, as shown in this table and the chart below.

2022 Mileage Rates

 January 1 – June 30, 2022 July 1 – December 31, 2022
Business58.5 cents per mile62.5 cents per mile
Medical18.0 cents per mile22.0 cents per mile
Moving (available to members of the Armed Forces of the United States
on active duty who move pursuant to a military order)
18.0 cents per mile22.0 cents per mile
Charitable14.0 cents per mile14.0 cents per mile

Please contact us with any questions.

 

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