Entries in the Category "vehicle"
IRS Changes 2015 Mileage Rate
The U.S. Internal Revenue Service has increased the standard rate for personal vehicle use in 2015. The new rate for business travel is 57.5 cents per mile. This new rate, effective for travel on or after January 1, will be calculated automatically for reimbursements in the CWRU PeopleSoft Travel and Expense Module. Mileage reimbursements for the 2014 calendar year will remain at the old rate of 56 cents per mile. The IRS standard mileage rate for business travel is based on an annual study of the fixed and variable costs of operating an automobile.
IRS Increases Mileage Rates
The IRS has announced standard business mileage rates for transportation expenses incurred beginning July 1, 2011 will increase to 55.5 cents per mile (see release). Relevant CWRU reimbursement requests for travel taking place beginning July 1, 2011 should employ this rate.
CWRU personal vehicle travel for the period January 1, 2011 through June 30th, 2011 will be reimbursed at 51 cents per mile. Travelers using rental cars will be reimbursed for actual rental and gasoline expenses and not provided mileage allowances.