With a new year, and tax season, comes an opportunity for employers and employees alike to literally gain more mileage from their transportation benefit programs.
On January 1, 2024, the IRS standard mileage rate for business use increased to 67 cents per mile, reflecting a 1.5-cent rise from 2023. Individuals using their personal vehicles for business, such as driving to client sites, need to know about these changes — and so do the HR and benefits professionals who implement, oversee or consult on vehicle reimbursement programs that rely on the IRS standard rate.
