Summary
The IRS announced that, effective Jan. 1, 2026, it will raise the standard mileage rate for business use of vehicles to 72.5 cents per mile, a 2.5-cent increase from 2025 to reflect higher operating costs and inflation. This optional rate, which applies to cars, trucks, vans, and electric and hybrid vehicles, helps taxpayers calculate deductible business driving expenses on their federal tax returns. The IRS also slightly reduced the mileage rates for medical and specific moving purposes to 20.5 cents per mile, while the charitable rate remains unchanged. Taxpayers may choose to use actual costs instead of the standard rate.
ABC News
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