Has anyone noticed they are paying more in gas but receiving mileage reimbursement that’s less than what you paid for in gas out of pocket?
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Peraton pays/reimburses the standard IRS allowable amount for 2022 of 58.5 cents a mile. Keypoint and Perspecta paid /reimbursed whatever the allowable amount was. They bill it back to the government.
58.5 cents per mile doesn’t cover the cost increase of fuel.
Anyone remember in 2011 when the IRS raised their reimbursement rate by 4.5 cents per mile to meet the increase in cost of fuel then.
"IR-2022-124, June 9, 2022
WASHINGTON — The Internal Revenue Service today announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes.
For the final 6 months of 2022, the standard mileage rate for business travel will be 62.5 cents per mile, up 4 cents from the rate effective at the start of the year. "
New rate is supposed to be effective 7-1 in our expense system…Of course, we’ve been going out in the field since mid-May with the higher gas prices.