eAlert! Federal: IRS Issues Standard Mileage Rates for 2024

Beginning January 1, 2024, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) will be:

• 67 cents per mile driven for business use (up 1.5 cents from 2023).
• 21 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces (a decrease of 1 cent from 2023).
• 14 cents per mile driven in service of charitable organizations (same as the 2023 rate).

Standard mileage rates are used to calculate the deductible costs of operating a car for business, charitable, medical, or moving purposes. The rates apply to vehicles that are electric, hybrid-electric, gas, and diesel-powered.

(IRS Notice 2024-08)