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Tax Planning
The IRS Just Did Something It Almost Never Does: Changed the Mileage Rate Mid-Year
The IRS has bumped the business mileage rate to 76 cents per mile — for the second half of 2026 only. Mid-year changes like this have happened just four times since 2005. Here's what actually changed, who it affects, and why "I trade for a living" probably doesn't qualify you for the deduction.