News
IRS Announces 2021 Standard Mileage Rates
Posted 12.28.20
On Dec. 22, 2020, the IRS issued the 2021 optional standard mileage rates, which are used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
The 2021 standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 56 cents per mile driven for business use, down 1.5 cents from the rate for 2020;
- 16 cents per mile driven for medical purposes or for moving purposes for qualified active duty members of the Armed Forces, down one cent from the rate for 2020; and
- 14 cents per mile driven in service of charitable organizations. The rate is set by statute and remains unchanged from 2020.
Refer to the below Bulletin for details.