A mileage receipt outlines an employee’s reimbursement from their employer for mileage driven in a personal vehicle for work purposes. Usually, employees that operate their personal vehicles for work have to track the mileage they drive to, from, and for work-related activities. Then they submit an expense report to request a reimbursement for any personal funds the driver had to spend to fuel their vehicle for work-related driving.
The IRS maintains a suggested mileage reimbursement rate for businesses to follow, but the rate is not a requirement. It’s based on the national average from the previous year’s data. As of July 2022, the current IRS rate is $0.625 per mile for standard personal vehicles. This rate is, however, the rate the IRS uses for mileage claimed as business expenses on tax returns. Only three states—California, Illinois, and Massachusetts—legally require employers to reimburse employees for job-related mileage.
What to Include
- Approver’s name and signature;
- Dates of travel;
- Driver information (name, address, phone, email);
- Employer information (name, address, phone, email);
- Mileage cap (if applicable);
- Payment method (cash, check, credit card, other);
- Receipt number;
- Signatures of both parties;
- Summary of reimbursement:
- Reimbursement amount per mile,
- Number of miles driven (total mileage),
- Subtotal,
- Tax rate,
- Total taxes due,
- Total amount due,
- Amount paid, and
- Outstanding balance (if applicable);
- Transaction date;
- Total amount spent out-of-pocket on fuel or electricity.