{"id":15795,"date":"2022-06-21T17:14:29","date_gmt":"2022-06-21T21:14:29","guid":{"rendered":"https:\/\/blogs.cooperhealth.org\/weeklyrounds\/?p=15795"},"modified":"2022-06-21T17:14:29","modified_gmt":"2022-06-21T21:14:29","slug":"irs-raises-mileage-rates","status":"publish","type":"post","link":"https:\/\/blogs.cooperhealth.org\/weeklyrounds\/2022\/06\/irs-raises-mileage-rates\/","title":{"rendered":"IRS Raises Mileage Rates"},"content":{"rendered":"<p>Effective July 1, 2022, the business standard mileage rate for use of an automobile (including vans, pickup trucks, and panel trucks) will increase from $0.585 to $0.625, and the rate for medical and relocation mileage will increase from $0.180 to $0.220. Mileage related to charity is set by law and remains at $0.14 per mile. (<a href=\"https:\/\/www.irs.gov\/pub\/irs-drop\/n-22-03.pdf\">Notice 2022-03;\u00a0Announcement 2022-13<\/a>)<\/p>\n<p>It is important to note that under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. Taxpayers also cannot claim a deduction for moving expenses incurred after December 31, 2017, except members of the Armed Forces on active duty moving under orders to a permanent change of station.<\/p>\n<p>The luxury vehicle limit announced for 2022 in <a href=\"https:\/\/www.irs.gov\/pub\/irs-drop\/n-22-03.pdf\">Notice 2022-03\u00a0<\/a>remains unchanged. Pursuant to the vehicle valuation limit that applies to use of the optional fleet-average and vehicle cents-per-mile valuation methods, the maximum fair market value of the vehicle (including trucks and vans) first made available to employees in calendar year 2022 increased from $51,100 to $56,100.<\/p>\n<p><strong>Federal mileage rates January 1, 2022 and July 1, 2022:<\/strong><\/p>\n<h5><strong>Type of Mileage:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Effective July 1, 2022:\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Effective January 1, 2022:<\/strong><\/h5>\n<p>Business Standard\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $0.625\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $0.585<\/p>\n<p>Charity\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $0.140\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $0.140<\/p>\n<p>Relocation and medical\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $0.220\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 $0.180<\/p>\n<p>If you have invoice inquiries, please email <a href=\"mailto:ACCOUNTSPAYABLE@COOPERHEALTH.EDU\"><strong>ACCOUNTSPAYABLE@COOPERHEALTH.EDU<\/strong><\/a><strong>.\u00a0 <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Effective July 1, 2022, the business standard mileage rate for use of an automobile (including vans, pickup trucks, and panel trucks) will increase from $0.585 to $0.625, and the rate for medical and relocation mileage will increase from $0.180 to $0.220. Mileage related to charity is set by law and remains at $0.14 per mile. &#8230; <span class=\"more\"><a class=\"more-link\" href=\"https:\/\/blogs.cooperhealth.org\/weeklyrounds\/2022\/06\/irs-raises-mileage-rates\/\">[Read more&#8230;]<\/a><\/span><\/p>\n","protected":false},"author":64,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-areed","4":"post-15795","6":"format-standard","7":"category-uncategorized"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IRS Raises Mileage Rates - Weekly Rounds<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IRS Raises Mileage Rates - Weekly Rounds\" \/>\n<meta property=\"og:description\" content=\"Effective July 1, 2022, the business standard mileage rate for use of an automobile (including vans, pickup trucks, and panel trucks) will increase from $0.585 to $0.625, and the rate for medical and relocation mileage will increase from $0.180 to $0.220. Mileage related to charity is set by law and remains at $0.14 per mile. ... 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