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2015 IRS Mileage Rates

The time has come and we now have the new 2015 IRS mileage rates. Many of you may have been thinking as I have that the rates might go down because of the significant drop in gas prices this Fall. However, the big news is that the business rate actually jumped up 1.5 cents! The reasoning from the IRS is that the deduction rate takes into account all the expenses associated with operating a vehicle – maintenance, depreciation, insurance, etc. So apparently the total costs have gone up even though the gas prices have come down. But without further ado, here are the new 2015 rates:

Beginning on Jan. 1, 2015, the standard 2015 IRS mileage rates for the use of a car, van, pickup or panel truck will be:

  • 57.5 cents per mile for business miles driven, up from 56 cents in 2014
  • 23 cents per mile driven for medical or moving purposes, down half a cent from 2014
  • 14 cents per mile driven in service of charitable organizations

Here’s the official announcement from the IRS:
http://www.irs.gov/uac/Newsroom/New-Standard-Mileage-Rates-Now-Available;-Business-Rate-to-Rise-in-2015

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