Business Mileage Rate Correction for 2020

Last week, we inaccurately reported the Internal Revenue Service’s 2020 business mileage rate. Effective January 1, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) is:

• 57.5 cents per mile driven for business use, down one half of a cent from the rate for 2019.
• 17 cents per mile driven for medical or moving purposes, down three cents from the rate for 2019.
• 14 cents per mile driven in service of charitable organizations.

The business mileage rate decreased one half of a cent for business travel driven and three cents for medical and certain moving expense from the rates for 2019. The charitable rate is set by statute and remains unchanged.