IRS increases business mileage rates for 2023

The Internal Revenue Service has bumped up the 2023 optional standard mileage rates that drivers can use to alleviate the cost of using an automobile for business, charitable, medical or moving expenses.

The standard business reimbursement rate, effective Jan. 1, has risen 3 cents to 65.5 cents per mile driven for the use of a car, van, pickup or panel truck.

That represents the third time in the past 12 months that the IRS has increased the mileage rate, having bumped it up by 4 cents in June…