2017 Standard Mileage Rates Released (IR-2016-169; Notice 2016-79)

CCH Tax Day Report

The IRS has released the 2017 optional standard mileage rates that employees, self-employed individuals, and other taxpayers can use to compute deductible costs of operating automobiles (including vans, pickups and panel trucks) for business, medical, moving and charitable purposes.

The 2017 standard mileage rate has decreased to 53.5 cents per mile for business uses and 17 cents per mile for medical and moving uses. It remains at 14 cents per mile for charitable uses. For purposes of computing the allowance under an FAVR plan, the standard automobile cost may not exceed $27,900 ($31,300 for trucks and vans).

The updated rates are effective for deductible transportation expenses paid or incurred on or after January 1, 2017, and for mileage allowances or reimbursements paid to, or transportation expenses paid or incurred by, an employee or a charitable volunteer on or after January 1, 2017.

Notice 2016-1, I.R.B. 2016-2, 265, is superseded.

IR-2016-169

Notice 2016-79, 2016FED ¶46,475

Other References:

Code Sec. 61

CCH Reference – 2016FED ¶1090.11

CCH Reference – 2016FED ¶5907.0325

Code Sec. 62

CCH Reference – 2016FED ¶6006.0324

Code Sec. 162

CCH Reference – 2016FED ¶8590.021

CCH Reference – 2016FED ¶8590.55

Code Sec. 170

CCH Reference – 2016FED ¶11,620.029

CCH Reference – 2016FED ¶11,620.6744

Code Sec. 213

CCH Reference – 2016FED ¶12,543.035

CCH Reference – 2016FED ¶12,543.82

Code Sec. 217

CCH Reference – 2016FED ¶12,623.021

CCH Reference – 2016FED ¶12,623.11

Code Sec. 274

CCH Reference – 2016FED ¶14,417.043

CCH Reference – 2016FED ¶14,417.045

CCH Reference – 2016FED ¶14,417.046

CCH Reference – 2016FED ¶14,417.047

CCH Reference – 2016FED ¶14,417.048

CCH Reference – 2016FED ¶14,417.05

CCH Reference – 2016FED ¶14,417.051

CCH Reference – 2016FED ¶14,417.052

CCH Reference – 2016FED ¶14,417.053

CCH Reference – 2016FED ¶14,417.50

Code Sec. 1016

CCH Reference – 2016FED ¶29,412.023

Tax Research Consultant

CCH Reference – TRC INDIV: 36,164

CCH Reference – TRC INDIV: 39,106.10

CCH Reference – TRC INDIV: 42,158

CCH Reference – TRC INDIV: 51,056.15

CCH Reference – TRC BUSEXP: 24,506.05

CCH Reference – TRC BUSEXP: 24,506.10

CCH Reference – TRC BUSEXP: 24,510

CCH Reference – TRC BUSEXP: 24,906.25

CCH Reference – TRC BUSEXP: 24,912.10

CCH Reference – TRC DEPR: 3,252.15

CCH Reference – TRC FARM: 9,074

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CCHTaxGroup

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