IRS issues new standard mileage rates

By BenefitsPro

By Dan Cook

And now, from the news-you-can-use while you cruise department …

The IRS has issued 2014 standard mileage rates, which take effect Jan. 1.

The new rates apply for use of a car, van, pickup or panel trucks. Here they are:
  • 56 cents per mile for business miles driven;
  • 23.5 cents per mile driven for medical or moving purposes;
  • 14 cents per mile driven in service of charitable organizations.
The business, medical and moving expense rates decreased one-half cent from the 2013 rates.

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