IRS Increases Standard Mileage Rate to $0.76/Mile, Effective July 1, 2026
The IRS has announced a mid-year increase to the standard mileage rate, raising it from $0.725 to $0.76 per mile for business use, effective July 1, 2026, This is a rare off-cycle adjustment. The IRS typically sets this rate once a year, but rising fuel prices prompted the mid-year revision. What this means for VCU […]
🚗 IRS Mileage Rate Update for 2026
Beginning January 1, 2026, the IRS standard mileage rate has increased to 72.5 cents per mile, reflecting a 2.5-cent increase from the 2025 rate. This updated rate has already been applied in Emburse/Chrome River, so mileage reimbursements submitted for travel on or after January 1, 2026 will calculate automatically using the new rate. For additional […]
IRS Announces Increased Mileage Rate for 2025!
Great news for all business travelers! Starting January 1, 2025, the IRS has increased the standard mileage rate for business use to 70 cents per mile, up from 67 cents in 2024. This adjustment reflects the rising costs of operating a vehicle and ensures that employees are fairly compensated for their travel expenses. Happy (business) […]
