IRS Increases Mileage Rate for Remainder of 2022
The Internal Revenue Service announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes.
For the final 6 months of 2022, the standard mileage rate for business travel will be 62.5 cents per mile, up 4 cents from the rate effective at the start of the year. The new rate for deductible medical or moving expenses (available for active-duty members of the military) will be 22 cents for the remainder of 2022, up 4 cents from the rate effective at the start of 2022. These new rates become effective July 1, 2022.
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FLSA Permits Unpaid Internships even if Employers Benefit, 11th Cir. Confirms
The FLSA requires that employers pay each employee minimum wage and overtime unless the individual is eligible for an exemption. To determine whether an individual — such as an intern — qualifies as an “employee,” the U.S. Department of Labor and courts often apply the primary beneficiary test. The test includes seven factors, according to DOL.