Those of us in 501(c)(3) Land may have been waiting for the latest policy update from the IRS. Well, the press release is here and the policy is here.
The good news for staff members is the standard mileage reimbursement rate has jumped three cents — yes! — to 40.5 cents per mile. And it’s about time.
The bad news for Overcommitted Volunteer Types is … no increase. Still 14 itsy bitsy cents, like last year.
Certainly we can debate whether there’s anything worth retaining in our current tax system, but for now we go to file with the tax code we have, not the tax code we might want or wish to have at a later time. And since that remarkable organism sets the standard for so many other entities, even the little quirky corners and folds are significant out in the real world.
