Today, the IRS released Notice 2019-2 changing the Standard Mileage Rate to $0.58 per mile effective
January 1, 2019. Employers should make a note to update this rate before any 2019 mileage payouts are made.
The notice also provides the amount taxpayers must use in calculating reductions as a basis for depreciation taken under the business standard mileage rate, and the maximum standard automobile cost that a taxpayer may use in computing the allowance under a fixed and variable rate plan.
Read the full notice here: https://www.irs.gov/pub/irs-drop/n-19-02.pdf
Other notable 2019 payroll related changes:
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