Illinois Mileage Rate 2024. The irs mileage rate accounts for vehicle operating costs, including gas, depreciation, insurance, and maintenance. On january 1, 2023, the gsa announced that the mileage reimbursement rate will increase from 62.5 cents per mile to 65.5 cents per mile effective january 1, 2023.
Meals & incidentals (m&ie) rates and breakdown. The programs impacted by the above rate and reimbursement changes are depicted on the recently released idhs:
Effective January 1, 2024 The New Reimbursement Rate Is 67 Cents Per Mile.
Mileage rate increases to 67 cents a mile, up 1.5 cents from 2023.
Deductible Mileage Rates For The 2024 Tax Year Have Also Changed, And Are Summarized In The Following Table.
Travelers choosing to use their personal vehicles for business travel may see a reduction on the mileage.
โข 65.5 Cents Per Mile Driven For Business Use, Up 3.
Images References :
Meals &Amp; Incidentals (M&Amp;Ie) Rates And Breakdown.
Mileage rate increases to 67 cents a mile, up 1.5 cents from 2023.
1, 2024, The Standard Mileage Rates For The Use Of A Car (Also Vans, Pickups Or Panel Trucks) Will Be:
Irs issues standard mileage rates for 2024;
Establishes The Fiscal Year 2023 And 2024 Mileage Reimbursement Rate And Allowance For Lodging And Meals.