The IRS announced the 2012 standard mileage rate. It’ll stay the same as in 2011: $0.555 per mile. If you drive your own car for a business, most employers reimburse employees at this rate.
Beginning on Jan. 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
- 55.5 cents per mile for business miles driven
- 23 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations
Source: IRS IR-2011-116