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What is the federal mileage reimbursement for 2015?

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Quick Answer

As of January 1, 2015, the federal mileage reimbursement rates are 57.5 cents per business mile, 23.0 cents per medical- or moving-related mile, and 14.0 cents per charity-related service mile, states the Internal Revenue Service. The business rate rose 1.5 cents from 2014, and the medical rate decreased 0.5 cent.

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Full Answer

Taxpayers may claim deductions using either the standard mileage rates or their actual vehicle usage costs, according to the IRS. The business standard rate is based on a yearly study of fixed vehicle operating costs, such as insurance and depreciation, and variable operating costs, such as oil and gas. The moving and medical rate depends on the variable costs, while the rate for charity-related mileage is established by law.

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