The official mileage rate, often used to reimburse employees for business use of their automobiles, is the maximum allowable amount that can be substantiated as employment tax-free. Employers can choose to reimburse at less or more than the mileage rate. Amounts paid in excess of the 76-cent rate are considered to be wages and taxed accordingly.
While this is not the first time the U.S. has changed the mileage rate mid-year, it does not happen often. A mid-year change last occurred in 2022, due to rising oil prices after
Russia invaded Ukraine. Visa Updates and Changes
The U.S. Customs and Immigration Service (USCIS) announced July 17
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ISSUE 26 GLOBAL PAYROLL MAGAZINE
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