IRS Mileage Increase in the middle of the Year

Beekeeper Bob

IRS Mileage increase in July from 58.5 to 62.5. How will quicken resolve this in the programing?

Beekeeper Bob

https://www.irs.gov/pub/irs-drop/n-22-03.pdf

volvogirl

Where does it say 62.5?   This hasn't been updated
https://www.irs.gov/tax-professionals/standard-mileage-rates

volvogirl

Oh did you mean 22-13?

https://www.irs.gov/pub/irs-drop/a-22-13.pdf

Beekeeper Bob

https://www.irs.gov/newsroom/irs-increases-mileage-rate-for-remainder-of-2022
volvogirl

Beekeeper Bob

> @volvogirl said:
> Where does it say 62.5?   This hasn't been updated
> https://www.irs.gov/tax-professionals/standard-mileage-rates

https://www.irs.gov/newsroom/irs-increases-mileage-rate-for-remainder-of-2022

NotACPA

It's not unusual for Q to be less than prompt in updating this table.

BUT, TAXRATE.TXT is easily editable by you with the update if you so choose.

Do a Win search for it, and note that it may be a Hidden file.

UKR

Mileage rates used by Mileage Tracker in Quicken H&B

The Mileage rates are stored in a datafile.  If you can't wait for Quicken to issue a software update with the latest numbers and if you know the numbers for the new year you can edit the file Milerate.txt using Notepad (while Quicken is closed)

The actual location of the Milerate.txt file varies by Quicken version.

Older versions: C:\ProgramData\Intuit\Quicken\Inet\Common\Localweb\Biz.

Current version: C:\ProgramData\Quicken\Inet\Common\Localweb\Biz.