Monday, January 9, 2012

Standard Automobile Mileage Rates for 2012

The IRS standard mileage rate for 2012 remains at 55.5 cents per mile - the same as the last six months of 2011. The standard GSA (General Services Administration) mileage rate for 2012 remains at 51 cents per mile, the same as 2011. Concerning the difference in the rates, GSA stated:

The IRS recently announced its standard automobile mileage rate of 55.5 cents will not change effective January 1, 2012. Although the results of our internal evaluation indicate no change in the Federal privately owned automobile, airplane and motorcycle mileage rates beginning January 1, 2012, we will continue to monitor the fuel costs and will adjust these rates if warranted. Any adjustments will be posted in the Federal Register and on this web site. Note: IRS and GSA do NOT necessarily have the same rate.

This distinction is important for contractors who have tied their reimbursement policies into one or the other's rates. See our posting from last July for more information as to why this distinction is important.

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