Mileage Reimbursement Rate to Increase
The IRS announced an increase to mileage reimbursements beginning July 1, 2011. For business miles driven, the rate will increase from 51 cents per mile to 55.5 cents per mile.
Also, reimbursements for medical and moving mileage expenses were also increased from 19 cents per mile to 23.5 cents per mile. For more information, view the IRS update.