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IRS Changes 2016 Mileage Rate

Date Released: 23 November 2015

The U.S. Internal Revenue Service standard rate for personal vehicle use in 2015 will remain unchanged through December 31st. The continuing rate for business travel is 57.5 cents per mile. This rate, effective for travel on or after January 1, 2015 will be calculated automatically for reimbursements in the CWRU PeopleSoft Travel and Expense Module. Mileage reimbursements for the 2014 calendar year will remain at the old rate of 56 cents per mile. The IRS standard mileage rate for business travel is based on an annual study of the fixed and variable costs of operating an automobile.