IRS Announces Increased Mileage Rates for Remainder of 2022

Jim DohertyNews

The Internal Revenue Service has announced increased mileage rates for the remainder of 2022 for use in calculating reimbursements:

Rate in Cents Per Mile
1/1 – 6/30/2022
Rate in Cents Per Mile
7/1 – 12/31/2022
Business Use58.562.5
Medical Use1822
Moving Use1822
Charitable Use1414

The standard vehicle cost, used to calculate FAVR (Fixed and Variable Rate) programs, remains the same at $56,100.

To read more, the IRS Announcement may be found on the IRS website: https://www.irs.gov/newsroom/irs-increases-mileage-rate-for-remainder-of-2022.

Let’s connect and we’ll show you how a FAVR (Fixed and Variable Rate) plan can reduce cost when compared to the IRS rate for business use.

About the Author

Jim Doherty

Jim Doherty has developed FAVR plans with many highly visible companies large and small, and has routinely documented significant program savings, heightened driver acceptance and satisfaction, and reduced fleet liability with greater control and administrative efficiency. Let's Connect

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