IRS Announces 2024 Optional Standard Mileage Rates

Effective January 1, 2024, the optional IRS standard mileage rates for operating an automobile (including vans, pickups, and panel trucks) for business, charitable, medical, or moving expenses have been updated as follows:

These optional standard mileage rates apply to electric and hybrid-electric automobiles, as well as gasoline and diesel-powered vehicles.

Please refer to the IRS Standard Mileage Rates – 2024 published on December 14, 2023, for additional details. For more information on changing IRS guidelines and policies in 2024, visit SalaryExpert, powered by ERI.