IRS Publishes Notice on 2026 Standard Mileage Rates for Business, Charitable, Medical, Moving Expenses

The IRS has published a notice providing optional standard mileage rates for 2026 that taxpayers may use to calculate deductible costs of operating an automobile. The rates are 72.5 cents per mile for business, 14 cents per mile for charitable services, and 20.5 cents per mile for medical or qualifying moving expenses. The notice specifies that 35 cents of the business rate represents depreciation for 2026. It sets a maximum standard automobile cost of $61,700 for FAVR plans and the same maximum fair market value for employer-provided automobiles under special valuation rules. The business mileage rate cannot be used for ...