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[Official Guidance]

Text of IRS Notice 2016-06: Application of Retroactive Increase in Excludable Transit Benefits (PDF)
13 pages. "This notice provides guidance related to the enactment of Section 105 of the Consolidated Appropriations Act ... [which] amended Section 132(f)(2) of the Internal Revenue Code to create parity, for periods after December 31, 2014, between the transit benefit exclusion for the aggregate of transportation in a commuter highway vehicle and any transit pass, and the exclusion for qualified parking....

"To address employers' questions regarding the retroactive application of the increased exclusion for 2015 and to reduce filing and reporting burdens, the [IRS] is clarifying how the increase applies for 2015 and providing a special administrative procedure for employers to use in filing Form 941, Employer's Quarterly Federal Tax Return, for the fourth quarter of 2015 to reflect changes in the excludable amount for transit benefits provided in all quarters of 2015 and in filing Forms W-2, Wage and Tax Statement."

(Internal Revenue Service [IRS])  

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