The IRS announced changes in the standard business mileage rates for calendar year 2014. Beginning January 1, the standard business mileage reimbursement rate for personal vehicle use on approved University business decreased from 56.5 cents to 56 cents per mile. Business mileage incurred in 2013, but reimbursed in 2014, should be reimbursed using the 2013 mileage rates. The Employee Expense Worksheet, UM1612, (218 K DOC) has been updated to reflect the changes to the mileage rates. These forms are also available on the Extension Finance intranet.
For more information, read the Traveling on University Business policy, or contact me with questions.
-Clint Schoeck, accounting