The Internal Revenue Service (IRS) has announced an increase in the optional standard mileage rate for the final six months of 2022 due to soaring gas price increases.

According to SESCO Management Consultants, an NFDA Endorsed Provider, effective July 1 through December 31, 2022, the standard mileage rate for business travel will be 62.5 cents per mile, up 4 cents from the 58.5 cents per mile rate effective at the start of the year.

As a benefit of membership, NFDA members can call the SESCO Human Resources Hotline with questions. Learn more at www.nfda.org/EndorsedProviders.