The standard mileage rates for the use of automobiles beginning July 1, 2011 will be 55.5 cents per mile for business miles driven and 23.5 cents per mile driven for medical or moving purposes the Internal Revenue Service announced in Announcement 2011-40 and News Release IR-2011-69.
Both Rates Are Higher than First Six Months of 2011
The new rates are changed from 51 cents per mile for business travel and 19 cents per mile for moving and medical travel for the first six months of 2011.
Charitable Rate Remains Unchanged
The rate for miles driven in service of charitable organizations remains the same at 14 cents per mile.
Contact Vision Payroll for More Information on the Updated 2011 Mileage Rates