IRS releases 2023 standard mileage rates

The IRS recently released guidance (Notice 2023-3) providing the 2023 standard mileage rates for taxpayer use in deducting costs of operating automobiles for business, charitable, medical or moving expense purposes.

Notable rates are listed below:

The 2023 standard mileage rate will be 65.5 cents per mile, up from 62.5 cents per mile last year.
The 2023 medical or moving rate will remain at 22 cents per mile. In June 2022, the IRS raised the rate to 22 cents from 18 cents.
The charitable rate will remain at 14 cents.
The maximum standard automobile cost for computing the allowance under a fixed and variable rate plan will be $60,800 in 2023 (up from $56,100 in 2022).

Contact:

Jeff Martin

Partner, Washington National Tax Office

+1 202 521 1526

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