Last week, the IRS announced its optional standard mileage rate for 2023. Effective January 1, 2023, reimbursement will be 65.5 cents per mile driven, and increase of 3 cents from their 2022 mid-year update.
If you reimburse employees based on the IRS mileage rate, be sure to update your rates to this new limit!
If you have any questions, contact us – we are happy to help!
Eric Thieringer
President
Eric Thieringer is president of Eli Advisors, an HR, payroll and employee benefits firm focused on serving small to mid-size organizations. Eli's services and support address the frustrating gaps that challenge employers and their employees. By solving these problems, Eli Advisors creates financially sustainable programs and services that help organizations attract, retain, and engage the talent needed to succeed.