Illinois Mileage Reimbursement Form
Description
How to fill out Mileage Reimbursement Form?
Locating the appropriate sanctioned document template can be somewhat of a challenge.
Of course, there is an abundance of templates accessible on the web, but how do you identify the sanctioned form you require.
Utilize the US Legal Forms website.
If you are a new user of US Legal Forms, here are simple instructions to follow: Firstly, ensure you have selected the correct form for your city/county. You can review the form using the Review button and read the form description to confirm it is appropriate for you.
- The service offers thousands of templates, including the Illinois Mileage Reimbursement Form, which can be utilized for both business and personal purposes.
- All forms are reviewed by experts and meet state and federal requirements.
- If you are currently registered, Log In to your account and click the Download button to acquire the Illinois Mileage Reimbursement Form.
- Use your account to search through the legal forms you have previously ordered.
- Visit the My documents tab in your account and obtain another copy of the document you require.
Form popularity
FAQ
Beginning on January 1, 2021, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 56 cents per mile for business miles driven, down 1.5 cents from the 2020 rate. 16 cents per mile driven for medical or moving purposes, down 1 cent from the 2020 rate.
In sum, the State of Illinois' mileage reimbursement rate for the use of personal vehicles will increase from 54.5 cents per mile to 58 cents per mile effective January 1, 2019.
The mileage rate is 58.5 cents per mile effective January 1, 2022. Travelers choosing to use their personal vehicles for business travel may see a reduction on the mileage reimbursement when a more economic mode of transportation was available.
Certain states including California, Illinois and Massachusetts do mandate that employers reimburse employees for mileage and vehicle expenses related to work. Each year, the IRS sets its mileage reimbursement rate. In 2020, the standard mileage rate is $0.575 per mile.
The Internal Revenue Service requires travel reimbursements that are not submitted within 60 days of the completion of travel to be reported as taxable income. The 60 day clock begins the day travel is completed and the clock stops when the travel voucher is received in the Comptroller's Office.
Calculating mileage reimbursement is relatively simple. To find your reimbursement, multiply the number of business miles driven by the IRS reimbursement rate. So if you drove 1,000 miles and got reimbursed . 56 cents per mile, your reimbursement would be $560 (1,000 miles X $0.56 = $560).
In sum, the State of Illinois' mileage reimbursement rate for the use of personal vehicles will increase from 54.5 cents per mile to 58 cents per mile effective January 1, 2019.
Beginning January 1, 2021, the standard mileage reimbursement rate has been set at . 56 cents per mile, according to the Internal Revenue Service.
As we mentioned, reimbursements for non-business travel, including commuting, is taxable, even if paid at or below, the Federal mileage rate and calculated on the same documentation as an accountable plan. This is considered regular wages and subject to all income and employment taxes.
