IRS Notice: IRS Sets 2026 Business Standard Mileage Rate

The IRS published a notice providing: 1) optional 2026 standard mileage rates for use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes; 2) the amount used in calculating reductions to basis for depreciation taken under the business standard mileage rate, and the maximum standard automobile cost that may be used in computing the allowance under a fixed and variable rate plan; and 3) the maximum fair market value of employer-provided automobiles first made available to employees for personal use in calendar year 2026 for which employers may use the fleet-average valuation ...