IRS Increases Mileage Rate for Remainder of 2022

For the final six months of 2022, the standard mileage rate for business travel will be 62.5 cents per mile, up 4 cents from the rate effective at the start of the year. The new rate for deductible medical or moving expenses (available for active-duty members of the military) will be 22 cents for the remainder of 2022, up 4 cents from the rate effective at the start of 2022.

These new rates become effective July 1, 2022. The IRS provided legal guidance on the new rates in Announcement 2022-13.

Midyear IRS mileage rate increase follows precedent, recent pleas - Journal of Accountancy