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On June 9, 2022, the IRS announced an increase in the optional standard mileage rate for the final six months of 2022 as follows:
Mid-year increases in the optional mileage rates are rare; however, due to the recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2022. The IRS normally updates the mileage rates once a year in the fall for the next calendar year. For travel from January 1 through June 30, 2022, the rates are set forth in Notice 2022-03.
The last time the IRS made a mid-year increase in the standard rates was in 2011.
The Transportation & Logistics industry group includes assurance, tax, technology and management consulting professionals who combine their individual expertise to serve transportation and logistics companies throughout the United States. For more than 30 years, we have worked with multiple large clients in the top 100 and continue to provide innovative solutions to help our clients reach their strategic goals.
For more information visit our dedicated Transportation and Logistics page.
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