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Midyear Mileage Rate Increase
June 15, 2022   |   2022 tax year, Form 1040, IRS, Medical Expense, Mileage, Taxes

Oustide gas station at night. trick parked by one of the pumps

Midyear Mileage Rate Increase

The pain of the gas pump has gotten so bad that the IRS wants to help with a midyear mileage rate increase (Yes its only 4 cents . . .). Translation: larger tax deduction for business and medical mileage. Midyear mileage rate changes are rare. . .

New IRS Mileage rate effective July 1, 2022 for mileage incurred From July 1 to December 31, 2022:

Business 62.5 cents per mile

Medical 22 cents per mile

Charity 14 cents per mile

Mileage rate for miles driven from January 1 to June 30, 2022 rate:

Business 58.5 cents per mile

Medical 18cents per mile

Charity 14 cents per mile

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