Standard Mileage Rate 2024 Irs. On december 14, 2023, the internal revenue service (irs) issued the 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile. The irs on thursday announced higher federal income tax brackets and standard deductions for 2024.

For 2023, the standard mileage rate for the cost of operating your car for business use is 65.5 cents ($0.655) per mile. Page last reviewed or updated: