IRS Raises 2026 Mileage Deduction To 76 Cents Per Mile as Higher Gas Prices Drive First Midyear Adjustment in Four Years
IRS raises business mileage rate to 76 cents/mile for travel after July 1, providing larger deductions amid rising fuel costs.
Why It Matters
The government is letting people write off more money when they drive for work because gas costs more now. This might help companies that use lots of vehicles, but it doesn't change how their businesses actually run.
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