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New IRS Guidance for Transportation-Related Benefits Restricts Use of Cash Reimbursements
Practical Law Company [Guidance Overview] Nov. 24, 2014 "[IRS Rev. Rul. 2014-32] addresses several examples involving payment methods for certain employer-provided transportation benefits, and whether the benefits must be included in employees' gross income.... IRS takes the position that the rule permitting employers to use cash reimbursements if the only available voucher (or similar item) is a terminal-restricted debit card is 'no longer warranted'." |
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