New Federal Milage Rate as of 7/1/2022

[cNsa5]

@notarynearme You’re kind & thoughtful to post your discovery.

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NOTE: You may find it helpful to research the Notary Cafe database that contains a gold mine of helpful elucidating information & data. It echoes around this forum that the magical Magnifying Glass for utilizing & accessing the Search function is IMPOSSIBLE to locate on the Notary Cafe website. So, here is an image to help guide you to find it:

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The update for the Federal Mileage Deduction Rate was previously posted on 11JUN22 by @LindaH-FL that includes a direct url reference to the official IRS Bulletin announcement & 14JUN22 by @RiverpointeTax => See the threads that follow for more information that was gleaned from the Notary Cafe database:

IRS Mileage Increase Remainder of 2022

Just saw this elsewhere…IRS standard mileage being increased to $.625/mile for remainder of 2022

IRS Updates Mileage Rates

The IRS has increased the Standard Mileage Rates. For January 1 through June 30 of this year, the rate is set at 58.5 cents per mile. The rate will then rise to 62.5 cents per mile for the period from July 1 through December 31. Note that the standard rate of 14 cents per mile for eligible charitable activities will not change. This means keeping accurate mileage records is important as you’ll have to calculate a split year.