Standard Mileage Rates for 2018
The Internal Revenue Service (IRS) issued updated mileage rates this year, effective January 1, 2018. These standard rates apply for the use of a car (vans, pickups or panel trucks).
Rate per cents per mile
|Medical or Moving Purposes|
|In service of charitable organizations|
The following deductions have been suspended under the Tax Cuts and Job Act for 2018 for tax years beginning after December 31, 2017 through December 31, 2025:
- No deduction is allowed for use of an automobile as part of a move
- The business standard mileage rate cannot be used to claim an itemized deduction for un-reimbursed employee travel expenses, unless the taxpayer is a member of the Armed Forces or active duty who moves pursuant to a military order and incident to a permanent change of station.
- Unreimbursed employee travel expenses, including business mileage is no longer deductible as a miscellaneous itemized deduction
To view the specific notices related to this information click on the links below:
- 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.
- Notice 2018-42 – provides information to taxpayers and employers about changes from the Tax Cuts and Jobs Act regarding the deduction for move-related vehicle expenses and un-reimbursed employee expenses.
Should you have any questions, please contact one of our tax professionals at 401-831-0200 or firstname.lastname@example.org .