The IRS has released the mileage rates for 2012. The rates are the same as they were for the last half of 2011:
- Business mileage rate is 55.5 cents/mile.
- Medical mileage rate is 23 cents/mile
- Moving expense rate is also 23 cents/mile
- Charitable mileage rate is 14 cents/mile*
*-Unlike the mileage rates for business, medical and moving expenses, the charitable mileage rate is set by Congress and the IRS does not adjust it for inflation. Only Congress can change the charitable mileage rate.