The IRS has issued Notice 2016-79, which provides the optional standard mileage rates beginning on January 1, 2017.
The standard mileage rates for the use of a car, van, pickup or panel truck will be:
- 53.5 cents per mile for business miles driven (down from 54 cents per mile in 2016);
- 17 cents per mile driven for medical or moving purposes (down from 19 cents in 2016); and
- 14 cents per mile driven in a passenger car in performing charitable services (unchanged).
Employers who wish to use the optional rates should update their payroll systems to reflect the new values.