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Commuter Benefits

February 19, 2019: BWC Webinar: A Parking Tax? How New IRS Rules Impact Employers

On Tuesday, February 19, 2019, the Coalition for Smarter Transportation (CoaST) and Best Workplaces for Commuters (BWC)  hosted a webinar on ‘A Parking Tax? How New IRS Rules Impact Employers.’ During the webinar, staff from CoaST and BWC reviewed how the Department of Treasury’s recent guidance on parking will impact employers. During the webinar, presenters provided: – A brief overview

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New IRS Guidance on Parking Expenses Released

IRS released Notice 2018-99, Parking Expenses for Qualified Transportation Fringes Under § 274(a)(4) and § 512(a)(7) of the Internal Revenue Code. This notice provides interim guidance for employers to determine the amount of parking expenses for qualified transportation fringes (QTFs) that is nondeductible under § 274(a)(4) of the Internal Revenue Code (Code) and for tax-exempt organizations to determine the corresponding increase

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Qualified Transportation Fringe Benefit Rates for 2019

The monthly limitation under § 132(f)(2)(A) regarding the aggregate qualified transportation fringe benefit exclusion amount for transportation in a commuter highway vehicle and any transit pass is $265 for taxable years beginning in 2019.  The monthly limitation under § 132(f)(2)(B) regarding the fringe benefit exclusion amount for qualified parking is $265. Tax Cut and Jobs Act suspended the Bicycle Commuter Benefit (which

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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

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Fiscal Cliff Deal Includes Increase in Transit Benefit Levels

The recently passed American Taxpayer Relief Act of 2012 (i.e., fiscal cliff deal), included Section 203 that extended the parity for exclusion from income for employer-provided transit and vanpool benefits at the same level as parking benefits ($245 per month) through December 31, 2013. In 2009, the American Recovery and Reinvestment Act of 2009 (a.k.a. the stimulus bill) effectively created

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