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EliAdvisors

IRS Releases 2023 Mileage Reimbursement Rate

Last week, the IRS announced its optional standard mileage rate for 2023. Effective January 1, 2023, reimbursement will be 65.5 cents per mile driven, and increase of 3 cents from their 2022 mid-year update.

If you reimburse employees based on the IRS mileage rate, be sure to update your rates to this new limit!

If you have any questions, contact us – we are happy to help!