Changing on 1/1/2021, IRS has changed the standard business mileage rate to 56¢ per mile (decrease from 57.5¢ in effect since 1/1/20).  The standard medical mileage rate has likewise changed to 16¢ per mile (decrease from 17¢ in 2020).  These new rates apply to mileage reimbursements paid to an employee on or after January 1, 2021 with respect to transportation expenses paid or incurred by the employee on or after January 1, 2021.

 

The rate used for charitable deduction purposes, set by statute rather than IRS, remains at 14¢ per mile.