This new cap is effective January 1, 2019 and results in greater savings for riders and their employers. Payroll deductions in 2018 are capped at $260/month; deductions occurring in 2019 are eligible for the increased cap of $265/month. We will be updating our employer materials to reflect the new monthly cap and will post them to our blog. Should you have any questions, please reach out to us at [email protected].
The IRS released Revenue Procedure 57, which increased the cap on 132(f) transportation fringe benefits from $260/month to $265/month for next year. Please see page 17 of the Revenue Procedure for specific text.
This new cap is effective January 1, 2019 and results in greater savings for riders and their employers. Payroll deductions in 2018 are capped at $260/month; deductions occurring in 2019 are eligible for the increased cap of $265/month. We will be updating our employer materials to reflect the new monthly cap and will post them to our blog. Should you have any questions, please reach out to us at [email protected].
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