The Internal Revenue Service released the standard mileage rates for 2024 in a notice released Dec. 14.
The standard mileage rate in 2024 will be 67 cents per mile, the IRS said in Notice 2024-08.
The rate for medical or moving purposes in 2024 decreased to 21 cents per mile, from the 22 cent rate in 2023. The mileage rate for charitable purposes is set in statute and remains unchanged at 14 cents per mile.
All rates apply to electric, hybrid-electric, gasoline, and diesel-power vehicles.
The maximum standard automobile cost for computing the allowance under a fixed and variable ...
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