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!