Irs Increases Mileage Rate 2024. 9, 2023 โ the internal revenue service today announced the annual inflation adjustments for more than 60 tax provisions for tax year 2024, including the tax. Mileage rate increases to 67 cents a mile, up 1.5 cents from 2023.
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 internal revenue service announced an increase in the standard mileage rates when people use their vehicles for business use.