Updates & News

2024

Standard Mileage Rates for 2024

The IRS announced an increase in the optional standard mileage rates for 2024 (effective for expenses paid or incurred on or after January 1, 2024).  Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The IRS normally updates the mileage rates once a year in the fall for the next calendar year.

The College has adopted the optional standard mileage rates for the use of a car (also vans, pickups or panel trucks) as follows:

Rates effective January 1, 2024: 

67 cents per mile for business miles driven
21 cents per mile for medical or moving purposes*
14 cents per mile driven in service of charitable organizations**

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile, including depreciation, insurance, repairs, tires, maintenance, gas and oil.

*The rate for medical and moving purposes is based on the variable costs, such as gas and oil.
**The charitable rate is set by law.

2023

REVISED Winter Break Accelerated Payroll Schedule

With the wonderful news that we get to start Winter Break one day earlier than previously expected, we need to adjust a few of the accelerated payroll deadlines. Please refer to the updated Winter Break Accelerated Schedule. The notable changes are highlighted below and in the attached. Note for A&S Division only – Please disregard these updated Winter Break Deadlines. Refer to the the Arts & Sciences Finance Center separate communication. 

• For Biweekly Paid Employee timesheets for Pay Period ending December 30 by Wednesday, December 20th. 
• For Biweekly Paid Student Employee timesheets for Pay Period ending December 23rd by Wednesday, December 20th. 

Note: All regularly benefited biweekly paid employees should record the Winter Break as follows for Employee pay period ending December 30, 2023: 

• Record Holiday Pay “Hol” for December 25th and December 26th
• Record “Other Lost Time” for December 22nd
• Record “Winter Brk” for December 27th, 28th, and 29th*
  *If you work any Winter Break days, you should record your hours as normal.
• For Employee pay period ending January 13th, 2024
• Record the Holiday Pay “Hol” for January 1st, 2024

Standard Mileage Rates for 2023

The IRS announced an increase in the optional standard mileage rates for 2023 (effective for expenses paid or incurred on or after January 1, 2023 for the remainder of the year).  Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The IRS normally updates the mileage rates once a year in the fall for the next calendar year.

The College has adopted the optional standard mileage rates for the use of a car (also vans, pickups or panel trucks) as follows:

Rates effective January 1, 2023: 

65.5 cents per mile for business miles driven
22 cents per mile for medical or moving purposes*
14 cents per mile driven in service of charitable organizations**

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile, including depreciation, insurance, repairs, tires, maintenance, gas and oil.

*The rate for medical and moving purposes is based on the variable costs, such as gas and oil.
**The charitable rate is set by law.

REAL IDs Required for Travel extended to May 7, 2025

The Transportation Security Administration is reminding travelers that beginning May 7, 2025, every traveler must present a REAL ID compliant driver's license, or another acceptable form of identification, to fly within the United States. For more information go to the Department of Homeland Security site and review your states’ Division of Motor Vehicles site.

New Hampshire Residents:

REAL ID Overview
Hours & Locations
Expanded Hours for REAL ID Only: second Saturday of each month from 8AM-12PM in Concord, Dover, Manchester, Nashua, Newport, and Twin Mountain.

Vermont Residents:

REAL ID Overview
Locations
Expanded Hours until 6PM on Wednesdays in Montpelier, Rutland, and Springfield, VT.

2022

Standard Mileage Rates for 2022

The IRS announced an increase in the optional standard mileage rates for 2022 (effective for expenses paid or incurred on or after July 1, 2022 for the remainder of the year).  Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The IRS normally updates the mileage rates once a year in the fall for the next calendar year.

The College has adopted the optional standard mileage rates for the use of a car (also vans, pickups or panel trucks) as follows:

Rates July 1 - December 31, 2022: 

62.5 cents per mile for business miles driven
22 cents per mile for medical or moving purposes*
14 cents per mile driven in service of charitable organizations**

Rates January 1 - June 30, 2022: 

58.5 cents per mile for business miles driven
18 cents per mile driven for medical or moving purposes*
14 cents per mile driven in service of charitable organizations**

The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile, including depreciation, insurance, repairs, tires, maintenance, gas and oil.

*The rate for medical and moving purposes is based on the variable costs, such as gas and oil.
**The charitable rate is set by law.