06/17/2022
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 increase effective July 1, 2022. Under this policy, the University Treasurer shall set rates at the levels established by the Internal Revenue Service (IRS). Mid-Year increases in this rate are rare, however the IRS increased the Standard Mileage rate for the remainder of 2022 due to the increase in fuel cost.

The Internal Revenue Service issued Notice 2022-13 on June 9, outlining the increase for second half of 2022 in the allowable standard mileage rate for employees who use their vehicles for University business from 58.5 cents to 62.5 cents per mile (up 4 cents from the start of the year). In addition, when computing deductible mileage for medical and military moving expense, the new rate increased from 18 cents to 22 cents per mile (up 4 cents from January) in 2022.

The rate associated with miles driven in service of charitable organizations remains at 14 cents (permanently set by statue at 14 cents). These changes are effective July 1, 2022.

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.

Mileage Rate Changes

Purpose Rate 1/1-6/30/22 Rate 7/1-12/31/22
Business 58.5 62.5
Medical/Moving 18 22
Charitable 14 14