On July 13, 2026, the IRS issued Internal Revenue Bulletin 2026-29, announcing updated standard mileage rates effective July 1, 2026. The revised rates affect business, medical, charitable, and certain military moving mileage deductions for the remainder of 2026.
January 1 – June 30, 2026
July 1 – December 31, 2026
Taxpayers who claim a mileage deduction may receive a larger tax benefit for eligible miles driven during the second half of 2026.
Because the rates changed mid-year, it’s important to track mileage driven before and after July 1 separately to ensure the correct rates are applied when preparing your 2026 tax return.
If you have questions about this update or would like to discuss other business tax planning strategies, we’re here to help. Contact emc CPAs today.