The Internal Revenue Service has issued a revised standard mileage rate for the final six months of 2022. Effective July 1, 2022, the mileage rate for the cost of operating your car for business will increase 4 cents from 58.5 cents per mile to 62.5 cents per mile.
* Travel and Expense records are to be submitted monthly, for one month per Travel and Expense report.
* A purchase order must precede the submission of the mileage report. Yearly travel expectations must be encumbered in September.