New IRS Mileage Reimbursement Rate as of July 1, 2022
On June 9, 2022, the IRS announced that it will be raising the mileage rate effective July 1, 2022. The IRS mileage rate will increase from 58.5 cents per mile to 62.5 cents per mile from July 1, 2022 to December 31, 2022.
As gas prices continue to rise to historic highs, employers with employees driving for work purposes, need to ensure their mileage reimbursement polices are current.
For more information on mileage reimbursement or any employment-related legal issue please feel free to contact Christopher Taylor, Esq at (626) 219-6008.