The IRS has announced a mid-year increase to the standard business mileage rate due to rising fuel costs. Effective July 1, 2026:
Business mileage: 76¢ per mile (up from 72.5¢)
Medical & qualified moving: 23.5¢ per mile (up from 20.5¢)
If you’re a business owner and tracking mileage for 2026, make sure your records distinguish between miles driven before and after July 1.