The IRS announced changes in the standard business mileage rates for calendar year 2011. Beginning January 1, 2011, the standard business mileage reimbursement rate for personal vehicle use on approved University business increases from 50 cents to 51 cents per mile. See the Rates section of U of MN policy Traveling on University Business. The standard mileage rate for moving expenses increases from 16.5 to 19 cents per mile. Business mileage incurred in 2010 but reimbursed in 2011 should be reimbursed using the 2010 mileage rate. The Employee Expense Worksheet (UM 1612) accommodates changes to the mileage rates.

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This page contains a single entry by Jennifer R. Thissen published on December 8, 2010 2:05 PM.

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