Tax Tip #310

Paying more at the pump? As a result of increasing gas prices, the IRS has increased the standard mileage rate for business use to 76 cents per mile, a 3.5 cents increase from 72.5 cents during the first half of 2026. This change is retroactively effective from July 1, 2026. 

While use of this rate is optional for private employers, many voluntarily use it as the standard benchmark for mileage reimbursement. 

If your organization uses the IRS standard mileage rate, we recommend updating your systems to reflect this change.

If you have any questions, feel free to reach out to a team member.