Mass-Transit Fare benefit

[Guest David Generali]

I am searching for any information pertaining to the mass-transit fare benefit, particularly for the state of New York.

[QDROphile]

Section 132(f) of the Internal Revenue Code.

[Guest kp]

There is a lengthy discussion of the transportation benefits, including mass transit, in another section (miscellaneous?).

[Guest Barbara M]

I recently was researching this new FSA benefit for our company.

Commuter Reimbursement is a flexible spending account under Section 132 (f) of the Internal Revenue Code that allows employers to offer their employees qualified transportation and parking benefits for employees.

The amount allowable by an employee may not exceed $65. per month for transportation expenses and $175 per month for parking expenses.

Qualified Expenses:

1). Transportation via mass transit facilities, 2) transportation via a commuter highway vehicle if transportation is related travel between an employee's residence and place of employment and 3)parking expenses for any type of vehicle near the employee's place of employment or on or near a location from which the employee commutes to work via mass transit or vanpool.