Illinois Mileage Reimbursement Form
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How to fill out Mileage Reimbursement Form?
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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.
