IRS boosts standard mileage rate deduction to 62.5 cents per mile, a 4 cent hike, as gas soars to more than $5 a gallon
June 14, 2022 at 10:42 AM EDT
The IRS will boost the standard mileage rate by 4 cents, to 62.5 cents per mile, starting on July 1. The midyear change is due to soaring gas prices.
