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IRS Bumps Up Standard Mileage Rates for the Second Half of 2026

ARTICLE | August 26, 2026

Authored by Vasquez + Company

Rising fuel costs have prompted the IRS to make a rare midyear adjustment to its standard mileage rates, effective July 1, 2026. The business mileage rate has increased to 76 cents per mile, up 3.5 cents from the first half of the year, while the rate for medical and qualifying moving expenses also climbed. For business owners, employers, and individuals who use vehicles for work-related purposes, understanding these changes, and knowing whether the standard mileage method or the actual expense method is more advantageous, can make a meaningful difference at tax time.

Read the full article here.

 

Our firm provides the information for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. This article is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose. 

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