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Effective January 1, 2014 the IRS standard rate will decrease by half a cent to 56 cents per mile driven for business purposes. While this is an optional standard rate, it is widely used to calculate mileage reimbursement for employees who operate their own vehicles for official company business.
If your company bases its mileage reimbursement on the IRS rate, be sure to update your systems to reflect this change.
EctoHR can help!
EctoHR, Inc. is ready to assist your company with all aspects of HR. Contact a team member at EctoHR by calling 810.534.0170, or by email to firstname.lastname@example.org.