Current Gas Mileage Reimbursement 2024

Current Gas Mileage Reimbursement 2024.  — the following lists the privately owned vehicle (pov) reimbursement rates for automobiles, motorcycles, and airplanes. On december 14, 2023, the internal revenue service (irs) issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Is there an upper limit for paying mileage to employees? The rate changed from the 2023 rate of 65.5 cents by 1.5 cents.