Changes to Civil Judgement Interest Rates and IRS Mileage Rates

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Jan 05

The interest rate on civil judgments in Wisconsin is set at 1% plus the prime rate in effect. The rate is subject to change every six months.

Photo by Alexas Fotos from Pexels

The following chart shows a five-year history of these changing rates:

Rate in effect July 1 – December 31, 20164.50%
Rate in effect January 1 – June 30, 20174.75%
Rate in effect July 1 – December 31, 20175.25%
Rate in effect January 1 – June 30, 20185.50%
Rate in effect July 1 – December 31, 20186.00%
Rate in effect January 1 – June 30, 20196.50%
Rate in effect July 1 – December 31, 20196.50%
Rate in effect January 1 – June 30, 20205.75%
Rate in effect July 1 – December 31, 20204.25%
Rate in effect January 1 – June 30, 20214.25%

In late December, the Internal Revenue Service issued the 2021 optional standard mileage rates. These are the rates used “to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.”

As of January 1, the rate is now 56 cents per mile driven for business use, down 1.5 cents from the rate for 2020.

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