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### New Mileage Rates Announced by the IRS

The IRS has recently announced new mileage rates for travel in 2024. The standard business mileage rate has been increased by 1.5 cents to 67 cents per mile. Additionally, medical and moving mileage rates have been set at 21 cents per mile, while charitable mileage rates remain unchanged at 14 cents per mile.

#### Applicable Vehicle Types
ItÔÇÖs important to note that these rates apply to all types of vehicles including gas, electric, hybrid-electric, and diesel-powered vehicles.

#### Mileage Deductions
It’s worth noting that as an employee who is not reimbursed for travel expenses, you cannot claim mileage as an itemized deduction. Similarly, the deduction for moving expenses is not allowed unless you are an active member of the Armed Forces and are ordered to move to a new permanent duty station.

#### Proper Documentation
To ensure you receive full credit for your miles driven, itÔÇÖs crucial to properly document your mileage.

#### How AI legalese decoder Can Help with the Situation
AI legalese decoder can be incredibly useful in this situation to help individuals and businesses understand the legal jargon and complex tax laws governing mileage rates. Its language translation features can help simplify this information, making it more accessible and easier to understand for both individuals and businesses alike. Additionally, it can aid in staying compliant with tax regulations and ensure that all necessary documents and records are maintained for tax and accounting purposes.

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