IRS standard mileage reimbursement rate increases to 56.5 cents on January 1, 2013

The Internal Revenue Service has announced the standard mileage reimbursement rate for business travel for 2013. Effective January 1, 2013, the standard mileage rate will be 56.5 cents per mile (up from 55.5 cents per mile in 2012).

Although employers are not required to reimburse employee travel at the IRS mileage rate, it is advisable to do so because other methods for providing adequate reimbursement are more difficult to prove.

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