The IRS made a rare mid-year adjustment, raising the optional standard business mileage rate to 76 cents per mile for travel on or after July 1, 2026, up from 72.5 cents January 1 through June 30. The change — the first mid-year bump since 2022 — responds to gasoline prices that rose roughly 38% between January and July 2026.
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IRS raises business mileage rate to 76 cents from July 1, 2026
Why this matters for founders
Update expense-reimbursement policies and bookkeeping to apply two rates for 2026 (72.5 cents H1, 76 cents H2) so employee and owner mileage deductions are calculated correctly at tax time.
Source: Journal of Accountancy
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