New IRS Mileage Rates for 2014

Beginning January 1, 2014, the new standard IRS mileage rates are:

1. $0.56/mile for business miles driven;
2. $0.235/mile for medical or moving purposes; and
3. $0.14/mile for service to charitable organizations.

Employers that use the standard IRS rates for employee reimbursement purposes should review and adjust their expense reimbursement policies to be consistent with these new guidelines.

You can find the IRS’ announcement about the new rates here.