IRS Increases Optional Standard Mileage Rate For Remainder of 2022, Announcement 2022-13

The IRS has announced an increase in the optional standard mileage rate for the final 6 months of 2022. Optional standard mileage rates are used by employees, self- employed individuals, and other taxpayer to compute deductible costs of operating automobiles (including vans, pickups and panel trucks) for business, medical, moving and charitable purposes. The 2022 standard mileage rate has increased to 62.5 cents per mile for business uses and 22 cents per mile for medical and moving uses. It remains at 14 cents per mile for charitable uses. Notice 2022-3, I.R.B. 2021-2, is modified.