IRS Standard Mileage Rate Increased Mid-Year

The IRS announced that due to higher gasoline prices, the standard mileage rates have been increased starting July 1, 2011, by 4.5¢. The last time the IRS increased the rate midyear was 2008.

• The rate for business driving in the second half of 2011 is 55.5¢ per mile. The rate for business driving in the first half of the year is 51¢ per mile.
• The rate for medical and moving driving for the second half of 2011 is 23.5¢ per mile, also up 4.5¢ per mile over the 19 cents per mile rate from January 1, through June 30, 2011.

Caution: The rate for charitable driving remains at 14 cents per mile. This is a rate fixed by statute and not by the IRS.

Source: IR-2011-69, June 23, 2011