admin Sift Media Share this content Advertisement Guide Sponsored 2021 Tax Season Handbook IRS Increases Mileage Rate to 55.5 Cents per Mile Jun 23rd 2011 admin Sift Media Share this content In a move that many expected, the IRS announced today an increase in the mileage rate effective July 1st. This is an increase of 4.5 cents from the 51 cent rate in effect for the first six months of 2011. The medical and moving rate will also increase to 23.5 cents. The IRS normally updates mileage rates once a year in the fall for the next calendar year, but with recent increases in fuel prices decided to make this mid-year adjustment. The announcement can be found at this link on the IRS website. Tags: Share this content Leave a comment Related content IRS May 11th 2022 The Realities of Resolving Back Tax Debt by Seth Fineberg Any Answers comment Icon 1 IRS Mar 15th 2022 What to Do When Clients File for S Corp Election by Nellie Akalp Any Answers comment Icon 1 IRS Feb 16th 2022 Tax Court Approves Losses for “Donkey Business” by Ken Berry admin Sift Media Read more from admin Advertisement Replies (0) Please login or register to join the discussion. There are currently no replies, be the first to post a reply.