The IRS has announced that the business standard mileage rate in regard to reimbursement for transportation expenses paid or incurred beginning January 1, 2017, will be 53.5 cents per mile, down 0.5 cents from the 54 cents-per-mile rate in effect during 2016.
If you have not yet completed all of your mileage expenses for 2016, please do so as soon as possible. You will need to calculate your mileage at the 2016 rate. Please do not submit mileage for the different years/rates on the same form. Forms submitted incorrectly will be returned, delaying the processing of your refund.