2024 Mileage Rate Increase For 2024. The irs bumped up the optional mileage rate to 67 cents a mile in 2024 for business use, up from 65.5 cents for 2023. Beginning on january 1, 2024, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) are:

On december 14, 2023, the internal revenue service (irs) announced an increase in the optional standard mileage rate for tax year 2024. 1, 2024, the standard mileage rates for the use of a car, van, pickup or panel truck will be: