IRS Lowering Mileage Allowances For Business Travel

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The IRS has announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) will decrease by $.05 to $.56 per mile for business travel starting January 1, 2014. This rate can also be used by employers to reimburse tax-free under an accountable plan employees who 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 to get medical care or in connection with a move that qualifies for the moving expense will also decrease by $.05 to $.235 per mile.  The rate for service to a charitable organization is unchanged at $.14 per mile.  Notice 2013-80, 2013-52 IRB ; IR 2013-95

 

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