New Standard Mileage Rate for Personal Autos Effective 1/1/21

01/12/2021
By Steve O'Riordan

Pursuant to Board of Trustee Policy T92-031 (Appendix B), I am hereby notifying you of the new Standard Mileage Rate effective Jan. 1, 2021. Under this policy, the University Treasurer shall set rates at the levels established by the Internal Revenue Service.

The Internal Revenue Service issued Notice 2021-02 on Dec. 22, outlining the decrease for 2021 in the allowable standard mileage rate for employees who use their vehicles for University business from 57.5 cents to 56 cents per mile. In addition, when computing deductible mileage for medical and military moving expense, the new rate decreased from 17 cents to 16 cents per mile in 2021. The rate associated with miles driven in service of charitable organizations remains at 14 cents (permanently set by statute at 14 cents). These changes are effective Jan. 1, 2021.

The university must take the appropriate steps to ensure compliance immediately. Thank you for your attention to this matter. Please contact Kathy O’Neil (Assistant Treasurer) at 774-455-7100 if you have any questions.