News & Analysis as of

Internal Revenue Service Wage and Hour Standard Mileage Rates

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Amundsen Davis LLC

Illinois Minimum Wage 2025 Update – July 1, 2025 Increases to Chicago and Cook County Minimum Wages; January 1, 2025 Increase to...

Amundsen Davis LLC on

On January 1, 2025, we saw the Illinois minimum wage increase from $14.00 to $15.00 per hour. The City of Chicago is increasing its set minimum wage on July 1, 2025 for employers with four (4) or more employees. Cook...more

Lewitt Hackman

Wage & Hour Compliance: 2025 Mileage Reimbursement Rate

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On December 19, the IRS published an updated mileage reimbursement rate for 2025: $0.70 per mile, a three cent increase from the 2024 rate. The rate applies to all vehicles, electric and gas alike....more

Amundsen Davis LLC

IL Minimum Wage 2024 Update – July 1, 2024 Increases to Chicago and Cook County Minimum Wages; January 1, 2024 increase to the IRS...

Amundsen Davis LLC on

On January 1, 2024, we saw the Illinois minimum wage increase from $13.00 to $14.00. The City of Chicago and Cook County are also increasing their minimum wages on July 1, 2024. The minimum wage for the City of Chicago will...more

Fisher Phillips

California Employers Face Minimum Wage Increases This July 1

Fisher Phillips on

With the Consumer Price Index recently showing the largest spike in 30 years, California employers need to brace themselves and prepare for the minimum-wage hikes going into effect in several cities across the state on July...more

Fisher Phillips

IRS Increases Mileage Rate to 62.5 Cents Per Mile for the Rest of 2022

Fisher Phillips on

Responding to record-high gas price, the IRS announced yesterday that, for July through December of 2022, the optional standard mileage rate for business travel will increase from 58.5 cents to 62.5 cents per mile....more

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