The IRS has set the standard mileage rate at which employees can be reimbursed for using their personal vehicle for business purposes in 2012.
The rate has been set at 55.5 cents per mile, which is unchanged from 2011. The standard mileage rate for miles driven for service to a charitable organization also is staying the same at 14 cents per mile, while the rate for miles driven for medical or moving purposes is decreasing to 23 cents per mile from the current 23.5 cents per mile. These rates are effective January 1, 2012.
