Published December 23, 2020
The IRS announced the 2021 standard mileage rate for business use of a personal vehicle, which is based on an annual study of the costs of operating an automobile.
The new rate for business miles driven for travel taking place on or after January 1, 2021, is $0.56 per mile, a decrease from $0.575 in 2020.
The 2021 mileage rate will automatically show in the travel and expense reimbursement system (Concur) effective Jan. 1, 2021.
For non-employee and guest reimbursements, the Travel office will adjust any paper travel vouchers received for travel taking place in 2021 that has the 2020 rate. They will email a scanned copy of the revised voucher to the individual identified on the voucher as the travel preparer.