The IRS has announced its 2024 standard mileage rates. Beginning Jan. 1, 2024, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 67 cents per mile driven for ...

Notice 2024-08 also provides the maximum standard automobile cost under a fixed-and-variable-rate (FAVR) plan of $62,000 for automobiles (including trucks and vans), up $1,200 from 2023. Under a FAVR ...

The IRS bumped up the optional mileage rate to 67 cents a mile in 2024 for business use, up from 65.5 cents for 2023. The new rate kicks in beginning Jan. 1 and it would apply to 2024 tax returns ...