October 20, 2014

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October 17, 2014

Update on Fiscal Cliff Commuter Tax Benefits

On January 4, we blogged about the American Taxpayer Relief Act of 2012’s (the “Act”) increases in the pre-tax contribution that commuters may make towards van pools as well as transit passes.

On January 11, 2013, the IRS released Revenue Procedure 2013-15, which clarifies that the 2013 limit for van pools and transit passes is $245, effective January 1, 2013.

The IRS still has yet to announce how to apply the increase retroactive to January 1, 2012, given that the 2012 tax year has come to a close.  We will keep you informed of additional developments. 

For more information, please see the IRS website here.

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About this Author

Patricia Moran, Employment, Attorney, Mintz Levin, Law firm
Of Counsel

Patricia counsels clients on a variety of employee benefits and compensation matters. Notably, Patricia represents clients in a board variety of health and welfare plan matters, including the Affordable Care Act’s employer and insurance mandates, the Massachusetts “Fair Share” employer mandate, COBRA, HIPAA, wellness, and mental health parity. Patricia has represented clients in multiple audits and examinations initiated by government agencies with respect to health and welfare plan matters, including the Massachusetts Department of Unemployment Assistance (...

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