2023 MILEAGE RATES ANNOUNCED

Today, the IRS announced the 2023 mileage rates.  The business mileage rate is increasing by 3 cents, from $0.625/mile between 7/1-12/31/22 to $0.655/mile in 2023.  The final move deductible rate is unchanged, remaining at $0.22/mile, the same rate for the period 7/1-12/31/22.

Please keep in mind that final move mileage (along with all shipment, storage, and final move costs) has been taxable since 1/1/18, except for military moves and specific states.  The charitable mileage rate remains unchanged at $0.14/mile.

IRS Notice 2023-03 has all the details:     https://www.irs.gov/pub/irs-drop/n-23-03.pdf