IRS Releases 2018 Standard Mileage Rates

The Internal Revenue Service (IRS) released Notice 2018-03 providing the 2018 standard mileage rates. Beginning January 1, 2018, the standard mileage rates for the use of a car (vans, pickups or panel trucks) will be:

  • 54.5 cents per mile for business miles driven, up from  53.5 cents for 2017
  • 18 cents per mile driven for medical or moving purposes, up from 17 cents for 2017 
  • 14 cents per mile driven in service of charitable organizations​

Notice 2018-03 contains the standard mileage rates, the amount a taxpayer must use in calculating reductions to basis for depreciation taken under the business standard mileage rate, and the maximum standard automobile cost that a taxpayer may use in computing the allowance under a fixed and variable rate plan