Debra A. Simmons, CPA

IRS Announces 2012 Mileage Rates

In Income Taxes on December 9, 2011 at 9:32 pm

The IRS today announced optional standard mileage rates for 2012:

*55.5 cents for business miles
*23 cents for medical and moving miles
*14 cents for charitable miles

The rate for business miles is the same as the last half of 2011. The medical and moving rate has been reduced by 0.5 cents per mile.

California conforms to these amounts.

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