2022 IRS Increase Standard Mileage Deduction Rate
Channel: EA Tax Resolutions
Date: 10/06/2022

With Gas prices soaring the IRS increased the optional standard mileage rate by 4 cents effective July 1, 2022 from 58.5 cents a mile to 62.5 cents a mile for business, and 18 cents a mile to 22 cents a mile for medical miles.

There was no increase for charitable miles which remains at 14 cents a mile.

IRS Announcement of increased standard mileage rate 2022: https://www.irs.gov/pub/irs-drop/a-22-13.pdf

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

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