Significant IRS Standard Rate Changes for 2019 - CarData Reviews Trends
AMHERST, N.Y., Dec. 20, 2018 /PRNewswire/ -- The IRS Standard Mileage Rate and FAVR plan maximum vehicle costs are published annually in IRS Rev Procedure 2010-51 Notice 2018-03.
2019 IRS STANDARD MILEAGE RATE
Effective January 1 2019, the IRS Standard Mileage Rate for 2019 is up 3.5 cents to 58 cents per mile. The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile.
The application for the IRS Standard Rate is to reimburse occasional business use.
IRS STANDARD MILEAGE RATE TRENDS
The table below created by CarData Online displays the IRS Standard Rate for the past 25 years. During those 25 years, the IRS adjusted the Standard Rate in mid-year only four times, in 1999, 2005, 2008 and in 2011. Mid-term adjustments are a function of dramatic changes in fuel prices, as happened with Hurricane Katrina in 2005.
IRS STANDARD MILEAGE RATE
Effective Date
Until Date
Rate Value
---
2019 January 58.00
---
2018 January
2018 December 54.50
---
2017 January
2017 December 53.50
---
2016 January
2016 December 54.00
---
2015 January
2015 December 57.50
---
2014 January
2014 December 56.00
---
2013 January
2013 December 56.50
---
2011 July
2012 December 55.50
---
2011 January
2011 June 51.00
---
2010 January
2010 December 50.00
---
2009 January
2009 December 55.00
---
2008 July
2008 December 58.50
---
2008 January
2008 June 50.50
---
2007 January
2007 December 48.50
---
2006 January
2006 December 44.50
---
2005 September
2005 December 48.50
---
2005 January
2005 August 40.50
---
2004 January
2004 December 37.50
---
2003 January
2003 December 36.00
---
2002 January
2002 December 36.50
---
2001 January
2001 December 34.50
---
2000 January
2000 December 32.50
---
1999 April
1999 December 31.00
---
1998 January
1999 March 32.50
---
1997 January
1997 December 31.50
---
1996 January
1996 December 31.00
---
1995 January
1995 December 30.00
---
1994 January
1994 December 29.00
---
Click HERE for more details on CarData Consultants, and how to find the best IRS compliant reimbursement plan for your business.
Please see official IRS release HERE.
About CarData Consultants CarData provides precision vehicle reimbursement programs for the mobile workforce. CarData services save money, reduce risk, and remove administration. CarData programs are compliant with the IRS and the CRA procedures.
MEDIA Contact: Megan Dean
Marketing & Sales Specialist | CarData Consultants Inc.
Direct: 303-434-3307 | FAX: 929-235-7525
206771@email4pr.com
www.cardataconsultants.com
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