2024 Mileage Rate Irs Releases. Due to recent increases in the price of fuel, the irs has increased the optional standard mileage rates for computing the deductible costs of operating an. The new rate kicks in beginning jan.
Mileage rate increases to 67 cents a mile, up 1.5 cents from 2023. The irs has released the annual optional standard mileage rates for 2024, encompassing the expenses associated with using your personal vehicle.