2024 Mileage Rate Reimbursement. 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. 14 announced that the business standard mileage rate per mile is.
Current mileage rate (2024) the irs standard mileage rates for 2024 stand at: You may provide an allowance or a reimbursement to your employee to compensate for use of their automobile or motor vehicle in connection with or in the course of their office or.