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IRS Increases Standard Mileage Rate in Light of High Gas Prices

Paul Caron
,

IRS Logo In light of the increase in gas prices, the IRS announced today (IR-2011-69; Announcement 2011-40) a 4.5-cent increase for July 1, 2011 through December 31, 2011 in the optional standard mileage rates used to calculate the deductible costs of operating an automobile:

  • Business use of a car:  55.5 cents per mile (up from 51 cents)
  • Medical and moving use of a car:  23.5 cents per mile (up from 19 cents)

The rate for charitable use of a car is set by statute and thus remains at 14 cents per mile.

About the Author

Paul Caron Avatar
Paul Caron
Paul Caron was named Duane and Kelly Roberts Dean of Pepperdine University School of Law on June 1, 2017. Dean Caron joined the Pepperdine faculty in 2013 after serving as the Dorothy and Leonard Straus Distinguished Visiting Professor of Law in the spring semesters of 2010 through 2013. He served as Associate Dean for Research and Faculty Development at Pepperdine in 2015-2017. Before coming to Pepperdine, he was Associate Dean of Faculty and Charles Hartsock Professor of Law at the University of Cincinnati College of Law.
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