Higher IRS Mileage Rates Take Effect

Due to rising fuel costs, the IRS has increased the 2026 cents-per-mile rates for calculating certain vehicle deductions. Effective July 1, 2026, the standard mileage rate for the business use of a car, SUV, van, pickup truck or panel truck is 76 cents per mile, up from 72.5 cents per mile for the first half of the year.

The revised rate for medical and eligible moving purposes is 23.5 cents per mile, up from 20.5 cents per mile. For charitable driving, the 14 cents per mile rate remains unchanged.

These rates apply to gasoline- and diesel-powered vehicles as well as electric and hybrid ones. To protect your deduction, keep detailed mileage records. Contact the office with questions.