The Internal Revenue Service (IRS) has announced the optional standard mileage rate used to calculate the costs of operating a car, van, pickup truck, or panel truck for business purposes in 2021. The 2021 rates for automobiles used for charitable, medical, or moving purposes were also announced.
The new rates beginning January 1, 2021, are:
- 56 cents per mile for business miles driven, down one half of a cent from the rate for 2020
- 16 cents per mile driven for medical or moving purposes, down three cents from the rate for 2020
- 14 cents per mile driven for gratuitous services to a charitable organization (unchanged from 2020)