As is the customary practice, the IRS set the standard mileage rate for 2022 around the end of 2021. That rate, as of January 1, 2022, was set to 58.5 cents per mile. However, for the first time since 2011, rapidly escalating gas prices have led the IRS to make a mid-year adjustment. Effective July 1, 2022, pursuant to IRS notice 2022-13, the standard mileage rate will be 62.5 cents per mile. Please use this rate when calculating mileage reimbursements on expense reports for the remainder of 2022.