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IRS mileage rate for business goes up to 70 cents a mile in 2025
The Internal Revenue Service on Thursday announced that the 2025 standard mileage rate will go up by 3 cents per mile to 70 cents for the optional mileage rate for automobiles driven for business. That's up from 67 cents a mile in 2024. The new rate kicks in beginning Jan. 1 and it would apply to 2025 tax returns that would be filed in 2026.
IRS raises tax deduction mileage rate for 2025 by 3 cents
The Internal Revenue Service is increasing the " optional standard mileage rate " used to calculate tax deductions by 3 cents a mile for 2025. The big picture: The increase goes into effect Jan. 1, 2025, bringing the IRS rate to 70 cents per mile driven for business use, the federal agency announced in a statement Thursday.
IRS Announces Standard Mileage Rates For 2025
The IRS has announced its 2025 standard mileage rates. Standard mileage rates are used to calculate the amount of a business, moving, medical, or charitable expense.
2025 IRS Business Mileage Rate of 70 Cents Powered by Motus Cost Data and Analysis
The Internal Revenue Service (IRS) has unveiled the 2025 business mileage standard rate of 70 cents, leveraging data from Motus 1, the leader in vehicle reimbursement and driver risk mitigation solutions.
1h
on MSN
Hunter Biden’s legal fights are far from over
Hunter Biden sued Ziegler and his company in September 2023, calling Ziegler a “zealot who has waged a sustained, unhinged ...
Moneywise on MSN
2d
The IRS is about to lose $20 billion in funding unless 1 thing happens soon — here’s what needs to be done and why that’s a problem for all Americans
When the IRS starts asking for money, many Americans get nervous. This time, though, the
Internal
Revenue
Service
isn’t ...
19h
Shutdowns Aren’t The Problem, They’re The Solution
Federal shutdowns highlight bloated spending and unchecked federal growth. They’re not the crisis—they’re a chance to restore ...
3h
Orange County man gets 1-year sentence for tax evasion, trying to hide luxury cars
An Orange County man has received a one-year sentence for tax evasion, according to the Department of Justice. James Fabius ...
1h
You Won't Believe What Michael Saylor Just Said About Bitcoin
On Dec. 16, Saylor sat down for an interview with CNBC's Sara Eisen and told the anchor he thinks President-elect Donald ...
JD Supra
3d
Internal Revenue Service Criminal Investigation (IRS-CI) Reports Billion Dollar Impact
Internal Revenue Service Criminal Investigation (IRS-CI) recently released its Fiscal Year 2024 (FY24) Annual Report, ...
Nairametrics
1d
FCT-IRS records N252.83billion from internally generated revenue in 2024
The Federal Capital Territory Internal Revenue Service (FCT-IRS) announced a record collection of N252.83 billion in ...
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IRS
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