Taxpayers who claim the standard mileage rate deduction for the miles they log for business purposes will be able to write off 72.5 cents per mile in 2026, the IRS has announced. That is up 2.5 cents — or about 3.5% — from the rate that was in effect for 2025. Drivers who take the standard mileage rate deduction for other purposes will not see an increase for 2026. In fact, some will see a…
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