Mileage Reimbursement Rate
The 2015 standard mileage rates have been published by the Internal Revenue Service (IRS) [Notice 2014-79]. The standard mileage rate employees may receive as non-taxable reimbursements, for miles driven on behalf of their employers, will increase to 57.5 cents per mile effective January 1, 2015. Pace University’s policy for mileage reimbursement follows Federal guidelines, therefore, in the event the IRS announces standard rate changes throughout the calendar year, our policy and website will reflect said changes.
Reimbursements to employees for business use of personal automobiles from January 1, 2014 through December 31, 2014 remain at 56 cents per mile.
Should you have questions concerning the above, please contact the Payroll Department at 914-923-2898.
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