Search results
Results From The WOW.Com Content Network
Last updated: Apr 11, 2024. The following lists the Privately Owned Vehicle (POV) reimbursement rates for automobiles, motorcycles, and airplanes.
Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 67 cents per mile driven for business use, up 1.5 cents from 2023. 21 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces, a decrease of 1 cent from 2023.
The standard mileage rates for 2023 are: Self-employed and business: 65.5 cents/mile. Charities: 14 cents/mile. Medical: 22 cents/mile. Moving (military only): 22 cents/mile. Find out when you can deduct vehicle mileage.
The TDY mileage rates consider the fixed and variable costs of operating a vehicle, such as gasoline, insurance, or wear and tear, and reimburse the average expense of using a POV for the official travel.
On June 9, 2022, the Internal Revenue. Service (IRS) announced an increase in the optional standard mileage rate for the final six months of CY 2022 effective July 1, 2022 to reflect the recent increase in fuel prices.
Per diem rates. GSA establishes the rates that federal agencies use to reimburse their employees for lodging and meals and incidental expenses incurred while on official travel within the continental United States (CONUS). A standard rate applies to most of CONUS.
The IRS mileage rate for medical or moving purposes is used to determine the POA rate when a Government-furnished automobile is authorized and also represents the privately owned vehicle (POV) standard mileage reimbursement rate for official relocation.