The IRS has published the official 2023 rates for reimbursable and deductible mileage, and many will be happy to know the rate per mile for business-related trips is up 3 cents from last year, accounting for the higher costs of running and maintaining a vehicle. The rates for medical and moving mileage remain the same as during the second half of 2022.
The 2023 IRS mileage rates are:
65.5 cents per mile for business purposes
22 cents per mile for medical and moving purposes
14 cents per mile for charitable purposes
These rates apply to electric and hybrid-electric automobiles, as well as gasoline and diesel-powered vehicles, the IRS announced.
It is important to note that under the Tax Cuts and Jobs Act, individual taxpayers cannot claim a miscellaneous itemized deduction for unreimbursed employee travel expenses. Individual taxpayers also cannot claim a deduction for moving expenses, unless they are members of the Armed Forces on active duty moving under orders to a permanent change of station.