Tuesday, December 31, 2019
THIS JUST IN
The Internal Revenue Service today issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on January 1, 2020, the standard mileage rates for the use of a car will be:
57.5 cents per mile driven for business use, down one half of a cent from 2019,
17 cents per mile driven for medical or moving purposes, down three cents from 2019, and
14 cents per mile driven in service of charitable organizations.
The charitable rate is set by Congress and remains unchanged.
I do believe this is the latest these rates have been announced.