The IRS has made a rare mid-year change to the mileage rate that is used to calculate employee reimbursement for work-related travel. This change will be in effect for the remainder of 2022. The decision to revise the mileage rate is due to the steep increase in the cost of fuel. The adjusted rate is now set at 62.5 cents per mile. That is a 4-cent increase from the original 2022 rate of 58.5 cents per mile. Learn more.
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