Tuesday, December 11, 2012

IRS Increases 2013 Mileage Reimbursement Rate

The IRS has announced an increase in the standard mileage reimbursement rate from 55.5 cents a mile to 56.5 cents a mile, effective January 1, 2013.  Click here to read the announcement from the IRS.

Some Agencies Set Own Rate:  It's a good thing to remember, however, that not all state and local agencies may have adopted this standard on their contracts.  For example, under State of Washington guidelines issued from the Office of Financial Management (OFM), as of October 1, 2012, the authorized reimbursement rate for mileage was only 51 cents.

Check Invoices and Contracts:  If you're a public agency, make sure you check invoices carefully so that you pay the contractual mileage reimbursement rate you've agreed to.  If you're a contractor doing business with the government, review your contract before submitting an invoice so that you submit the correct rate on your invoices.

Mike Purdy's Public Contracting Blog 
© 2012 by Michael E. Purdy Associates, LLC 

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