The Internal Revenue Service on December 13 2010 issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning on Jan. 1 2011, the standard mileage rates for the use of a car will be: 51 cents per mile for business miles driven, 19 cents per mile driven for medical or moving purposes, and 14 cents per mile driven in service of charitable organizations. Beginning in 2011, a taxpayer may use the business standard mileage rate for vehicles used for hire, such as taxicabs. Also beginning in 2011, the standard mileage rates are announced in a separate notice, which also provides the amount a taxpayer must use in calculating reductions to basis for depreciation taken under the business standard mileage rate and the maximum standard automobile cost for automobile under a FAVR allowance.
The Internal Revenue Service on December 9, 2011 issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 55.5 cents per mile for business miles driven, 23 cents per mile driven for medical or moving purposes, and 14 cents per mile driven in service of charitable organizations. The rate for business miles driven is unchanged from the mid-year adjustment that became effective on July 1, 2011. The medical and moving rate has been reduced by 0.5 cents per mile. Notice 2012-01 contains the standard mileage rates, the amount a taxpayer must use in calculating reduction to basis for depreciation taken under the business standard mileage rate, and the maximum standard automobile cost that a taxpayer may use in computing the allowance under a fixed and variable rate plan.