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2014 IRS Qualified Transportation Fringe Benefit

The following are the maximum rates for qualified transportation fringe benefits for 2014:

– Transit: up to $130 per month
– Commuter highway vehicle (e.g.,vanpool): up to $130 per month
– Parking: up to $250 per month
– Qualified bicycle commuting : reimbursed up to $20 per month

Parity between the parking and transit/commuter highway vehicle benefits that was in place for 2013 at $240 per month was eliminated when tax extender provision made in 2013 expired. After cost-of-living adjustments by IRS, the parking benefit was increased from $240 per month in 2013 to $250 per month in 2014 but transit/commuter highway vehicle (e.g., vanpool) monthly limits decreased from $240 tot $130 per month.

There was no change to the bicycle commuting reimbursement benefit level of up to $20 per month.

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