Beginning on January 1, 2021, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 56 cents per mile driven for business use, down from 2020,
- 16 cents per mile driven for medical, or moving purposes for qualified active duty members of the Armed Forces, down from 2020, and
- 14 cents per mile driven in service of charitable organizations, remains unchanged from 2020.
Remember, under the Tax Cuts and Jobs Act, taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. Taxpayers also cannot claim a deduction for moving expenses, unless they are members of the Armed Forces on active duty moving under orders to a permanent change of station.
Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.
For the full notice and information, click HERE.
