Level 7

Question

IRS Mileage Rate change beginning July 1st 2022.

Forum|Forum|4 years ago
June 10, 2022
3 replies
26 views

Beginning July 1st the Mileage Allowance increases by a huge amount from 58.5 Cents to 62.5 Cents!

This will give relief to employees dependent on their employers business reimbursements.

Thank you

ProSeries Professional

This topic has been closed for replies.

IRonMaN

Level 15

Just like a stimulus payment ---------------- that extra 4 cents is going get everybody to go on a spending spree 😮

Never mind. I guess with gas being at $25 bucks a gallon or whatever it is today, that 4 cents is just going to go back to the oil companies.

Slava Ukraini!

JRCAuthor

Level 7

The Oil Companies need that extra 4 Cents to pay for the Trucking of the Crude OIL to the refineries and the gas to the retail gas stations.

Guess they never thought of that ... 🙂

IRonMaN

Level 15

We need to dump our gas powered cars and go to electric vehicles. But then again, when the rolling blackouts start popping up because they aren't producing enough electricity, we won't be able to charge them. Maybe we should all invest in a good bicycle. But then again, those things need air for their tires and I'm guessing they will start charging for air. Maybe we should all start walking. But then again, we are getting old so we will be needing new knees and hips. I guess we can't win --------- although after this past tax season, being a permanent couch potato doesn't sound like such a bad thing.

Slava Ukraini!

dkh

Level 15

Thanks for posting this - I was just discussing with a client this morning that there most likely will be an increase to the mileage rate for July 1. At the time, I wasn't able to look up any information.

JRCAuthor

Level 7

Official Announcement 2022-13

For more Information on this.

T

Taxtime3

Level 5

I just walk everywhere.

BobKamman

Level 15

4 cents a mile times, my car gets 20mpg in town = 80 cents. How much has the price of gas gone up since January 1?

The grid does not have the capacity to support the 50% EV goal -- and much of the power still comes from fossil fuels. I'm hoping my grandkids solve these problems. Meanwhile, my biggest monthly car expense is insurance, not gas. (I don't drive much.) But no one talks about tort reform -- the personal-injury lawyers won't allow it.

JRCAuthor

Level 7

I guess they are out of touch with those of us who have to drive to work and home and for necessities like food, clothing, meds, medical, etc..

Oh I could take mass-transit if it was available here in the Midwest.... Like a bus, subway, train, uber, taxi? all not available.

May go back to hitchhiking as I did when I was a teen....

4 Cents increase for a $2.50 (Double) of fuel costs? Sounds like a deal... haha

SAD..

IRonMaN

Level 15

Mass transit in the rural Midwest consists of calling a friend or neighbor for a ride.🚌

Slava Ukraini!

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