IRS Announces 2020 Mileage Rates
12.31.19 | Today the IRS announced the 2020 mileage rates. The business mileage rate has been lowered from $0.58/mile in 2019 to $0.575/mile in 2020. The final move deductible rate has also been lowered from $0.20/mile in 2019 to $0.17/mile in 2020.
Please keep in mind that final move mileage (along with shipment, storage, and final move costs) are taxable since January 1, 2018 with the exception of military moves and certain states. The charitable mileage rate remains unchanged at $0.14/mile. See all of the details here: IRS Notice 2020-05.