Skip to main content

IRS increases 2026 business mileage rate by 2.5 cents

WASHINGTON (AP) — The standard mileage rate for the business use of a car, truck, van or other vehicle will increase by 2.5 cents in 2026.

The IRS announced Monday that beginning Jan. 1, the standard mileage rate for a qualifying vehicle will be 72.5 cents per mile, up 2.5 cents from 2025.

The rate will be 20.5 cents per mile driven for medical purposes, down a half cent from 2025 and will be 20.5 cents per mile driven for moving purposes for certain active-duty members of the Armed Forces and certain members of the intelligence community, which is reduced by a half cent from last year.

The change, meant to reflect updated cost data and annual inflation adjustments, applies to fully-electric and hybrid automobiles, and gas and diesel-powered vehicles.

Use of the standard mileage rates is optional. People who use a their car for work may instead choose to calculate the actual costs of using their vehicle.

Inside Obama’s presidential museum opening this month: The cost, the books and a beehive

CHICAGO (AP) — The Obama Presidential Center will open June 19 more than a decade after the former president chose his hometown of Chicago for the project. The museum displays campaign memorabilia and presidential artifacts, while its campus showcases a new community basketball court, public library and playground. A look at the numbers behind the former President Barack Obama's presidential museum. $850 million The approximate cost to build the 225-foot museum tower and nearly 20-acre campus, which the Obama Foundation is paying for with private donations. The cost ballooned from the initial estimates of $350 million.
Read Next Story

Related News

The top photos of the day by AP photojournalists

Trump administration has separated dozens of children from their parents for a second time, AP finds

Takeaways from the AP’s report on children who have been separated from their parents a second time