IRS Announces 2012 Standard Mileage Rates

Date: 
12/12/2011

T A X   U P D A T E

December 12, 2011

IRS Announces 2012 Standard Mileage Rates

For additional information and discussion on this topic, please get in touch with your regular  HW&Co. professional or one of our Tax Professionals listed below.

Mary Eileen Vitale, CPA, CFP®
Principal
vitale@hwco.com 
216.378.7210

Edward C. Lowe, CPA, MAFIS
Senior Manager
lowe@hwco.com
216.378.7230

Roger B. Nudelman, CPA
Senior Manager
nudelman@hwco.com
216.378.7238

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On December 9, 2011, the IRS announced the standard mileage rates for the use of a car (also vans, pickups or panel trucks), beginning January 1, 2012, will be:

  •  55.5 cents per mile for business miles driven
  •  23 cents per mile driven for medical or moving purposes
  •  14 cents per mile driven in service of charitable organizations


The rate for business miles driven is unchanged from the adjustment that became effective on July 1, 2011. The medical and moving rate decreased by .5 cents per mile.

Please feel free to contact our Tax Professionals if you have questions on the 2012 standard mileage rates or any other 2011-2012 tax planning inquiries.