The HR & Payroll Resource Center is your integrated, comprehensive source for HR and Payroll information that merges news, analysis, and guidance — including custom answers, webinars,...
The standard business mileage rate for vehicular transportation or travel expenses is to fall to 54 cents a mile in 2016 from 57.5 cents a mile in 2015, the Internal Revenue Service said Dec. 17 in Notice 2016-1 and IR-2015-137. The rate for medical care or the use of an automobile as part of a move with deductible expenses decrease to 19 cents a mile from 23 cents. The mileage rate for charitable remains 14 cents a mile. The maximum standard automobile cost that may be used in computing the allowance under a fixed- or variable-rate plan falls to $28,000 in 2016 from $28,200 for automobiles, excluding trucks and vans, and increases to $31,000 in 2016 from $30,800 for trucks and vans.
Notify me when updates are available (No standing order will be created).
Put me on standing order
Notify me when new releases are available (no standing order will be created)