IRS Mileage Rates

The IRS has announced that the business standard mileage rate for transportation expenses paid or incurred beginning January 1, 2012, will be 55.5 cents per mile, unchanged from the rate in effect during the final six months of 2011. 

Effective January 1, 2012, the standard mileage rates for the use of a vehicle are:

• 55.5 cents per mile driven for business
• 23.5 cents per mile driven for medical or moving purposes
• 14 cents per mile driven in service of charitable organizations