Mileage Reimbursement Rate for 2016

Did you notice that the IRS decreased the federal mileage reimbursement rate for the first time in the last 6 years?

Beginning January 1, 2016, the reimbursement rate decreased to 54 cents per mile. As a reminder to our customers, we recommend verifying that your company's mileage reimbursement rate is set correctly.

In order to edit your company's mileage rate, follow these steps:

1. Sign in to ClickTime (you need to be an administrator).
2. Click the "Expenses" link on the menu bar under the Company tab.
3. Click the "Expense Types" link.
4. Click on the name or "edit pencil" icon of your "mileage" expense type.
5. Edit the rate value. For example, enter 0.54 for the new federal rate.
6. Choose whether to apply the rate change to existing expenses that haven't been approved.
7. Save your changes.

If your company has multiple mileage expense types, remember to repeat steps 4-7 above for each appropriate expense type.

Check out the IRS web site's mileage rate history if you're interested in how the federal mileage rate has fluctuated over time.