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By Cynthia Rignanese
Contributing Writer 

Mileage Rates - The IRS is Slower Than . . . Who? The IRS

 

Last updated 1/15/2021 at 3:38pm

What can your company do to prepare for the 2021 IRS Mileage Rate? Does your company reimburse its employees at the current IRS Mileage Rate?

The IRS has just released the standard mileage rates for 2021. Yes, one would think that they would think at least a mere month, but no! The rates are typically updated only during December for the following year!

The mileage rate has changed for 2021 to 56 cents per mile from 57.5 cents per mile in 2020. Yes, I agree, the one-half of one cent was odd in 2020; but that was the amount set based on an annual study of the fixed and variable costs of ope...



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