Posted Dec 12, 2013
Transit riders and vanpoolers who take advantage of pre-tax commuter benefits with their employer will find that their maximum monthly limit decrease to $130 starting January 1, 2014 from $245 in 2013.
The American Taxpayer Relief Act of 2012 (HR 8) restored the pre-tax transit and vanpool commuter benefits to be on par with the qualified parking benefit temporarily for the 2013 calendar year. That parity ends December 31, 2013.
At this time, the 2014 monthly limits for qualified monthly transportation benefits are:
up to $130 per employee per month for public transportation and vanpool
up to $250 per employee per month for qualified parking, or
up to $380 per employee per month for both public transportation and qualified parking
Qualified bicycle commuting reimbursements will remain unchanged at $20 per month in the new year…. Read the rest