With a new year comes new IRS mileage guidance. Recently released IRS Notice 2022-03 outlines the mileage rates effective 1/1/2022:
- Business mileage: 58.5 cents/mile
- Medical/military moving expenses: 18 cents/mile
- Charitable driving: 14 cents/mile
It is important to note that the IRS requires all taxpayers to substantiate mileage deductions. Proper taxpayer support should be able to provide background into the following:
- Amount of travel (in mileage and time)
- Place of travel (including origin and destination)
- Business purpose for the travel
Should you have any questions please contact your WG tax advisor.
