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IRS Updates Guidance on Transportation Fringe Benefits Provided Through Electronic Media (PDF)
Buck [Guidance Overview] Dec. 22, 2014
"[T]he IRS recently updated its guidance on employers' use of smart cards, debit cards, and other electronic media to provide their employees with qualified transportation benefits on a pre-tax basis. Under this guidance, the value of transit benefits provided via cards restricted to use as transit fare, or to purchase transit fare, can be excluded from gross income, as can delivery charges for passes purchased online. Beginning December 31, 2015, an employer may not use cash reimbursements for qualified transportation benefits where terminal-restricted debit cards are readily available."
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