New IRS Mileage Rate for 2024

The IRS has raised the 2024 optional mileage rate for personal vehicle use on business travel. The new rate is 67 cents per mile, up 1.5 cents from the most recent 2023 rate. 

CWRU reimbursements for personal vehicle mileage beginning January 1st will be at the new rate in the PeopleSoft Travel and Expense Module. Remaining valid mileage requests for 2023 will be reimbursed at 65.5 cents/mile. 

See additional details in the IRS news release