IRS announces 2014 Mileage Rates

The IRS has announced New Mileage Rates for

The IRS has announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) will decrease by .5¢ per mile to 56¢ for business travel beginning in January 2014.

This rate can also be used by employers to reimburse employees tax-free under an accountable plan if they supply their own autos for business use and to value personal use of certain low-cost employer-provided vehicles.

The rate for using a car in 2014 to get medical care or in connection with a move that qualifies for the moving expense will decrease by .5¢ to 23.5¢ per mile.

The rate for charitable driving remains unchanged at 14¢ per mile.

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Voice of Hope

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