Employer Provided Transit Passes and Van Pooling
Regular employees are allowed up to a certain limit for the combined value of employer provided transit passes plus commuting on an employer's van or bus. Any amount over the tax free amount is should be included in gross income. Qualifying transit passes include tokens, fare cards, or vouchers for mass transit or private transportation businesses Qualifying van or bus pool vehicles must seat at least six passengers, with at least half the seats filled by employees, and be used at least 80% of the time for employee commuting. Under Section 132(F) of federal tax code, an employer can offer its commuting employees up to $125 per month for “qualified transit” costs. Commuter vanpooling is recognized by the IRS as a form of “qualified transit” along with bus, rail and ferry services.
Read more about this topic: Employer Transportation Benefits In The United States
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