IRS Mileage Rate Information for 2023

One way to calculate your mileage deduction is to use the Standard Mileage Rate, set annually by the IRS. 

Using this method, you take the total miles you drove in the year and multiply it by the IRS rate.  We get asked all the time about the current rate, so we’ve collected current information on this post for you to bookmark as you prepare for tax time!

For 2023: Beginning on January 1, 2023, the standard mileage rate for business use increased to 65.5 cents per mile.

2022 actually saw two rates.  From January 1, 2022 to June 30, 2022, the rate was set at 58.5 cents per mile. Due to increased gas prices, the rate increased later in the year. From July 1, 2022 to December 31, 2022, the rate was 62.5 cents a mile.

Historical IRS rates can be accessed here: https://www.irs.gov/tax-professionals/standard-mileage-rates.