In a recently announced Notice 2016-79 the IRS has issued 2017 standard mileage rates to compute deductions for costs to operate vehicles for business, medical, moving and charitable purposes during 2017 tax year. The 2017 tax rates are as follows:
- 53.5 cents per mile for business purpose
- 17 cents per mile for medical and moving purpose
- 14 cents per mile for charitable purpose
The full text of the IRS notice is available in the link above. Should you have any questions regarding this announcement, please call our office.