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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, Best Workplaces for Commuters will host a webinar, “A Parking Tax? How New IRS Rules Impact Employers.” Webinar – Tuesday, 2/19/2019   2:00pm – 3:00pm  The Coalition for Smarter Transportation (CoaST) and Best Workplaces for Commuters (BWC) will host a webinar on ‘A Parking Tax? How New IRS Rules Impact Employers.’ During this webinar, staff from

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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 2017

According to Internal Revenue Service’s  Revenue Procedure 2016-55, 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 $255 for taxable years beginning in 2017.  The monthly limitation under § 132(f)(2)(B) regarding the fringe benefit exclusion amount for qualified parking is $255. Bicycle commuting reimbursement limitations

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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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