The 2024 federal mileage reimbursement rates have arrived. These are issued by the Internal Revenue Service (IRS) to calculate costs for operating vehicles for business, charitable, medical or moving purposes. In short, the business mileage rate increased 1.5 cents for business travel and decreased by 1 cent for medical and certain moving expenses from 2023.
2024 IRS Mileage Reimbursement Rates
Beginning January 1, 2024, standard mileage rates for the use of a car, van, pickups or panel trucks will be:
- 67¢ per mile driven for business (up 1.5¢ from the 2023 rate)
- 21¢ per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces (down 1¢ from the 2023 rate)
- 14¢ per mile driven in service of charitable organizations (unchanged from 2023)
Business leaders can use these mileage rates to calculate how much to reimburse employees who use their own cars for business purposes. As always, taxpayers also have the option to calculate the actual costs of using their vehicle, instead of using the standard mileage rates. For more information, please refer to the IRS press release
