Bates & Company, Inc.
|
Regional Vice President of Sales The Retirement Plan Company
|
Compass
|
Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
Loan & Distribution Specialist AimPoint Pension
|
AimPoint Pension
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
IRS Limits Scope of Transit Exclusion's Retroactive Increase
HR Daily Advisor Jan. 22, 2015
"[A] limited number of entities will benefit from the retroactive allowance -- namely, companies with qualified transportation fringe benefits that provided an 'excess transit benefit' during 2014. That term refers to any amount in mass transit benefits -- either delivered to the employee through a compensation reduction agreement or funded by the employer -- in excess of the $130 monthly limit that was in place as of Jan. 1, 2014, up to the new limit applied retroactively, which is $250 per month.... The guidance, which provides a special administrative procedure for certain employers to claim refunds of employment tax overpayments, only applies to employers that administered their QTFBs by allowing an excess transit benefit while including the excess amount as taxable wages."
|
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |