New Federal Mileage Reimbursement Effective 7/1/22

Effective July 1, 2022, IRS increased the standard federal mileage reimbursement rate for business purposes to 62.5 cents per mile.  The rate increased from 58.5 cents per mile which remains in effect for the first 6 months of 2022.

If your company uses the federal rate for mileage reimbursement, we suggest that you update your system for the second half of 2022.