Standard mileage rates for 2016

Image courtesy of DollarPhotoClub.com

Image courtesy of DollarPhotoClub.com

The IRS announced the standard mileage rates for 2015. , oops, 2016. You can find the official announcement in Notice 2016-01.

According to the IRS comments in IR-2015-137:

Beginning on Jan. 1, 2016, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

  • 54 cents per mile for business miles driven, down from 57.5 cents for 2015
  • 19 cents per mile driven for medical or moving purposes, down from 23 cents for 2015
  • 14 cents per mile driven in service of charitable organizations

The business mileage rate decreased 3.5 cents per mile and the medical, and moving expense rates decrease 4 cents per mile from the 2015 rates. The charitable rate is based on statute.

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs.

Standard rates for the last few years:

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