© 2024 American Payroll Institute, Inc.
January 5, 2024 Volume 32 Issue 1
Standard Mileage Rate Increases to 67 Cents in 2024
The IRS announced that the business standard mileage
rate for transportation expenses paid or incurred
beginning January 1, 2024, is 67 cents per mile, up 1.5 cents
from 65.5 cents per mile for 2023 [Notice 2024-8, 12-14-23].
The rate applies to electric, hybrid-electric, gasoline, and
diesel vehicles.
The mileage rate may be used to compute the amount
to reimburse employees who use their own cars for business
purposes. It may also be used by employers that elect to
use the “cents-per-mile” valuation method for purposes of
determining the amount that needs to be imputed to an
employee’s income for personal use of certain company-
owned or leased nonluxury vehicles (see The Payroll Source®,
§3.2-2). However, it may not be used by employees in claiming
a tax deduction for unreimbursed employee business
expenses, since such deductions are suspended by the Tax
Cuts and Jobs Act.
In addition, the 2024 standard rate for miles driven for
medical or moving purposes decreases to 21 cents per mile
(from 22 cents in 2023). The deduction for moving expenses
only applies to members of the Armed Forces on active duty
who move under a military order and due to a permanent
change of station.
The standard mileage rate for operating a passenger car
for charitable purposes, which is set by law, remains 14 cents
per mile.
Standard Mileage Rate Increases to 67 Cents in 2024..................1
IRS Releases 2024 Publication 15-T.......................................................2
Reminder: IRS Lowers Electronic Filing Threshold to 10
Forms for 2024........................................................................................2
IRS Unveils Disclosure Program, Mails Letters for ERC Claims. 3
IRS Finalizes Regulations on De Minimis Error Safe Harbor........4
IRS Releases 2023 Form 940 and Schedule A....................................4
IRS Releases 2024 Publications 15 (Circular E), 15-A, and
15-B.............................................................................................................5
IRS Releases 2024 Form W-4 With Few Changes.............................5
IRS Releases 2024 Forms W-4P, W-4R...................................................6
IRS Releases 2024 Forms W-2, W-3. ......................................................6
IRS Revises Forms 1099-MISC, 1099-NEC, and Instructions........7
Tables Issued for Figuring Amount Exempt From Levy in
2024............................................................................................................7
IRS Releases More Guidance for SECURE 2.0 Act. ............................7
IRS Creates Form to Request Time to Furnish Recipient
Statements...............................................................................................8
IRS Releases Tax Calendars for 2024. ...................................................8
Wage Amount for Government Control Employee Increases
to $180,000..............................................................................................8
Payroll Solutions..........................................................................................9
IRS Updates Mailing Address for Questions on Substitute
Forms. ........................................................................................................9
IRS Releases Form SS-4, Application for EIN...................................10
IRS Updates E-File Forms for Employment Tax Returns. ............10
IRS Updates Application for Voluntary Classification
Settlement Program..........................................................................10
DOL Releases Enforcement Stats for Fiscal Year 2023................11
Court Dismisses Company’s FLSA Counterclaim Against
Workers. .................................................................................................11
Learn More About Compliance at PAYO’s Capital Summit
in March.................................................................................................11
Court Orders Employers to Sell, Shut Down Business After
Violating FLSA......................................................................................12
IRS Updates Form, Instructions to Determine Worker
Status......................................................................................................13
6th Circuit Rules Employee Qualified for FLSA Executive
Exemption.............................................................................................13
11th Circuit Rules Sheriff Is Immune From FLSA Overtime
Lawsuit...................................................................................................14
State and Local Highlights............................................................. 15
PayrollOrg Offers Comments on Artificial Intelligence to
United Nations........................................................................... 17
PayrollOrg Raises Regulation Z and EWA Concerns With
CFPB.............................................................................................. 18
Beginning with this issue, “Inside Washington” (the latest from PAYO’s Government Relations office) is included inside each
issue of Payroll Currently.
January 5, 2024 Volume 32 Issue 1
Standard Mileage Rate Increases to 67 Cents in 2024
The IRS announced that the business standard mileage
rate for transportation expenses paid or incurred
beginning January 1, 2024, is 67 cents per mile, up 1.5 cents
from 65.5 cents per mile for 2023 [Notice 2024-8, 12-14-23].
The rate applies to electric, hybrid-electric, gasoline, and
diesel vehicles.
The mileage rate may be used to compute the amount
to reimburse employees who use their own cars for business
purposes. It may also be used by employers that elect to
use the “cents-per-mile” valuation method for purposes of
determining the amount that needs to be imputed to an
employee’s income for personal use of certain company-
owned or leased nonluxury vehicles (see The Payroll Source®,
§3.2-2). However, it may not be used by employees in claiming
a tax deduction for unreimbursed employee business
expenses, since such deductions are suspended by the Tax
Cuts and Jobs Act.
In addition, the 2024 standard rate for miles driven for
medical or moving purposes decreases to 21 cents per mile
(from 22 cents in 2023). The deduction for moving expenses
only applies to members of the Armed Forces on active duty
who move under a military order and due to a permanent
change of station.
The standard mileage rate for operating a passenger car
for charitable purposes, which is set by law, remains 14 cents
per mile.
Standard Mileage Rate Increases to 67 Cents in 2024..................1
IRS Releases 2024 Publication 15-T.......................................................2
Reminder: IRS Lowers Electronic Filing Threshold to 10
Forms for 2024........................................................................................2
IRS Unveils Disclosure Program, Mails Letters for ERC Claims. 3
IRS Finalizes Regulations on De Minimis Error Safe Harbor........4
IRS Releases 2023 Form 940 and Schedule A....................................4
IRS Releases 2024 Publications 15 (Circular E), 15-A, and
15-B.............................................................................................................5
IRS Releases 2024 Form W-4 With Few Changes.............................5
IRS Releases 2024 Forms W-4P, W-4R...................................................6
IRS Releases 2024 Forms W-2, W-3. ......................................................6
IRS Revises Forms 1099-MISC, 1099-NEC, and Instructions........7
Tables Issued for Figuring Amount Exempt From Levy in
2024............................................................................................................7
IRS Releases More Guidance for SECURE 2.0 Act. ............................7
IRS Creates Form to Request Time to Furnish Recipient
Statements...............................................................................................8
IRS Releases Tax Calendars for 2024. ...................................................8
Wage Amount for Government Control Employee Increases
to $180,000..............................................................................................8
Payroll Solutions..........................................................................................9
IRS Updates Mailing Address for Questions on Substitute
Forms. ........................................................................................................9
IRS Releases Form SS-4, Application for EIN...................................10
IRS Updates E-File Forms for Employment Tax Returns. ............10
IRS Updates Application for Voluntary Classification
Settlement Program..........................................................................10
DOL Releases Enforcement Stats for Fiscal Year 2023................11
Court Dismisses Company’s FLSA Counterclaim Against
Workers. .................................................................................................11
Learn More About Compliance at PAYO’s Capital Summit
in March.................................................................................................11
Court Orders Employers to Sell, Shut Down Business After
Violating FLSA......................................................................................12
IRS Updates Form, Instructions to Determine Worker
Status......................................................................................................13
6th Circuit Rules Employee Qualified for FLSA Executive
Exemption.............................................................................................13
11th Circuit Rules Sheriff Is Immune From FLSA Overtime
Lawsuit...................................................................................................14
State and Local Highlights............................................................. 15
PayrollOrg Offers Comments on Artificial Intelligence to
United Nations........................................................................... 17
PayrollOrg Raises Regulation Z and EWA Concerns With
CFPB.............................................................................................. 18
Beginning with this issue, “Inside Washington” (the latest from PAYO’s Government Relations office) is included inside each
issue of Payroll Currently.
