IRS Sets Mileage Rates for 2018
Business mileage rate 54.5 cents per mile
Medical and moving rate 18.0 cents per mile
Charitable mileage rate 14.0 cents per mile
Pursuant to Notice 2018-3:
Note that the charitable mileage rate has been set at 14 cents per mile by statute. There was a provision in the House proposal for tax reform (under Sec. 1306) that would have allowed the IRS to determine, and make periodic adjustments to, the charitable standard mileage rate, taking into account the types of costs that are deductible under section 170 of the Code when operating a vehicle in connection with providing volunteer services. This provision is not included in the final conference bill.
Please contact our tax team with any questions.
Dave serves as Partner and is dedicated to meeting client needs in the exempt organization tax arena through review of client returns, consulting engagements, training, and the compilation of the annual CapinCrouse Higher Education Tax Reporting Trends Project. He has 30 years of accounting experience and serves several industry committees, including the AICPA Not-for-Profit Advisory Council. Dave has also served on the IRS Advisory Committee on Tax Exempt and Government Entities (ACT).