I was updating some of my files to show the 2018 IRS standard mileage deduction rates for business, medical, and charity driving and I noticed that while the business and medical rates have changed almost every year—sometimes up, sometimes down— the charity rate has not changed in at least 17 years; it remains 14 cents per mile. I wondered why.
A bit of googling yielded this article, which confirmed what I suspected. The charity rate is fixed in legislation; the other rates are not.
It might be time for Congress to do something about that. And who would complain? Who could be against it?
- In 2000, the average cost of a gallon of gasoline was $1.51. In December 2017, it was $2.37.
- According to the Consumer Price Index, in November of 2017 it would take 20 cents to have the same buying power as 14 cents in 2000.
Of course, this may all be moot if, with our new tax laws, no one is itemizing deductions anyway.