IRS Reduces Standard Mileage Rates for 2021

January 12, 2021 | Governmental Affairs

The Internal Revenue Service (IRS) has issued its 2021 optional standard mileage rates. The new rate is lower than the rate established in 2020.

Effective January 1, 2021, the standard mileage rates for the use of a car (also vans, pickups, or panel trucks) will be:

56 cents per mile driven for business use, down 1.5 cents from the rate for 2020.
16 cents per mile driven for medical, or moving purposes for qualified active duty members of the Armed Forces, down 1 cent from the rate for 2020.
14 cents per mile driven in service of charitable organizations, the rate is set by statute and remains unchanged from 2020.

For more information, visit the IRS’ website.