Transit Benefits Lowered to $130/mo for 2014

December 12, 2013
Please note the changes to the monthly tax-free limits for transit and parking benefits that go into effect on January 1, 2014. According to the IRS guidelines (which can be found at http://www.irs.gov/irb/2013-47_IRB/ar11.html), the 2014 pretax limit for transit benefits is dropping to $130/mo and the parking benefit is increasing to $250/mo. This will only effect your employees who have been receiving more than $130/mo in transit benefits. Please inform those employees of the new limits and adjust your future orders in January and forward accordingly. There is a good chance that Congress will restore the parity between the transit and parking benefits for 2014, but unfortunately, reports indicate that it will not happen until after the January 1st change.

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