IRS Increases Standard Mileage Rates for Last Half of 2022 For AT&T Employees

Healthcare Provider Update: Healthcare Provider for AT&T: AT&T collaborates with multiple healthcare providers to ensure its employees receive quality health coverage. One primary partner is UnitedHealthcare, which offers health plans tailored for AT&T employees. Potential Healthcare Cost Increases in 2026: As the landscape of healthcare evolves, AT&T employees may face significant challenges with rising healthcare costs in 2026. Experts anticipate a steep surge in premiums for Affordable Care Act (ACA) marketplace plans, with some states projecting increases exceeding 60%. This rise is largely attributed to the potential expiration of enhanced federal premium subsidies and soaring medical expenses. Without action from Congress to extend these subsidies, over 22 million enrollees may see their out-of-pocket costs increase by more than 75%, making it imperative for workers to prepare financially for the coming changes. Click here to learn more

Due to recent increases in the price of fuel, the IRS has increased the optional standard mileage rates for computing the deductible costs of operating an automobile for business, medical, and moving expense purposes for the second half of 2022. The standard mileage rate for computing the deductible costs of operating an automobile for charitable purposes is set by statute and remains unchanged.

For July 1, 2022, to December 31, 2022, the standard mileage rates are as follows:

• Business use of auto : Our AT&T clients may find this particularly beneficial. 62.5 cents per mile (up from 58.5 cents for January 1, 2022, to June 30, 2022) may be deducted if an auto is used for business purposes. As a AT&T employee, your employer from AT&T may reimburse you for your business travel expenses using the standard mileage rate. However, if AT&T does not reimburse you for your business travel expenses, you cannot currently deduct your unreimbursed travel expenses as miscellaneous itemized deductions.
  
  

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The IRS normally updates the standard mileage rates once a year in the fall for the next calendar year. Mid-year increases in the standard mileage rates are rare — the last time the IRS made such an increase was in 2011.