The federal mileage deduction is supposed to be a simple proxy for what it really costs to put a car on the road for work.

The Internal Revenue Service has raised the standard mileage rate that taxpayers can use for business driving in 2026, while leaving the medical, moving and charitable rates at their prior levels. For ...

Taxpayers who claim the standard mileage rate deduction for the miles they log for business purposes will be able to write ...

Millions of Americans who drive for work or recently financed a car are heading into tax season with a very different set of ...

The Internal Revenue Service is lifting the standard mileage allowance for 2026 to 72.5 cents per mile, a small but ...

The IRS has announced that the 2026 standard mileage rate for business use is 72.5 cents per mile, the highest rate on record. Medical and military moving rates dipped.

Mileage reimbursement is the process of compensating employees who use their personal vehicle for business purposes. It helps cover car-related expenses like gas, maintenance, wear and tear, and more.

This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. J.R. Whalen: Here's Your Money Briefing for Monday, July 11th. I'm J.R. Whalen ...

The federal mileage rate for 2026 just hit a record: 72.5 cents per mile. The IRS announced the 2.5-cent jump on December 29, ...