Is $175 still the Section 132(f) qualified parking limit?

[Guest Letocha]

Has the IRS released a notice either changing or confirming the $175 qualified parking expense limit (from the proposed regulations) for 2001?

[Joe Priselac]

In the latest version of Publication 15-B the IRS stated that the limit for parking reimbursement is $180 per month.

[Guest Bud]

I don't know about Pub 15-B (I couldn't find it); however, the Code Section 132(f) states that qualified parking stays at $175. The IRS can't override the Code, so I doubt the limit is $180.

[Steve72]

Actually, it's Rev.Proc. 2001-13 that ups the limit. According to the advance copy now on RIA's Checkpoint, the limit is now $180.

[Guest mdrucker]

The limits for 2001 are posted on the IRS website http://www.irs.ustreas.gov/prod/forms_pubs...bs/p15b0215.htm

The complete publication is

http://www.fedworld.gov/pub/irs-pdf/p15b.pdf

see page 16.

Mike