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Commuter Services

IRS Updates for 2019

According to IRS, Qualified Transportation Fringe Benefit limit will increase from $260 per month to $265 per month in 2019.

For taxable years beginning in 2019, the monthly limitation under § 132(f)(2)(A) regarding the aggregate fringe benefit exclusion amount for transportation in a commuter highway vehicle and any transit pass is $265. The monthly limitation under § 132(f)(2)(B) regarding the fringe benefit exclusion amount for qualified parking is $265.

Source: https://www.irs.gov/pub/irs-drop/rp-18-57.pdf

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