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Transit Benefit Increased to $315.00 Per Month for 2024
The tax-free limits for transportation benefits for the calendar year beginning January 1, 2024 will increase to $315.00 per month for transit and $315.00 per month for parking. Please see IRS Revenue Procedure 2023-34 page 13 for complete information. If you have any questions or would like any assistance with your transit benefit program, please call us at 877-587-6236
Transit Benefit Increased to $300.00 Per Month for 2023
The tax-free limits for transportation benefits for the calendar year beginning January 1, 2023 will increase to $300.00 per month for transit and $300.00 per month for parking. Please see IRS Revenue Procedure 2022-38, page 14 for complete information. If you have any questions or would like any assistance with your transit benefit program, please
Transit Benefit Increased to $280.00 Per Month for 2022
The tax-free limits for transportation benefits for the calendar year beginning January 1, 2022 will increase to $280.00 per month for transit and $280.00 per month for parking. Please see IRS Revenue Procedure 2021-45, pages 14-15 for complete information. If you have any questions or would like any assistance with your transit benefit program, please call us
Transit Benefit Remains $270.00 Per Month for 2021
The tax-free limits for transportation benefits for the calendar year beginning January 1, 2021 will remain at $270.00 per month for transit and $270.00 per month for parking. Please see IRS Revenue Procedure 2020-45, page 14 for complete information. If you have any questions or would like any assistance with your transit benefit program, please
Transit Benefit Raised to $270.00 Per Month for 2020!
The tax-free limits for transportation benefits for the calendar year beginning January 1, 2020 will grow to $270.00 per month for transit and $270.00 per month for parking. Please see IRS Revenue Procedure 2019-44, page 14 for complete information. If you have any questions or would like any assistance with your transit benefit program, please call us at
TRANSIT BENEFIT RAISED TO $265/MO FOR 2019
The tax-free limits for transportation benefits for the calendar year beginning January 1, 2019 will grow to $265.00 per month for transit and $265.00 per month for parking. Please see https://www.irs.gov/pub/irs-drop/rp-18-57.pdf, page 17 for complete information. If you have any questions or would like any assistance with your transit benefit program, please call us at 877-587-6236 or email us
Transit Benefit raised to $260/mo for 2018
The tax-free limits for transportation benefits for the calendar year beginning January 1, 2018 will grow to $260.00 per month for transit and $260.00 per month for parking. Please see the IRS Rev. Proc. 2017-58 for complete information. Additional Information: For questions or assistance, please call us at 877-587-6236 or email us at support@tranben.com.
Transit Benefits Remain $255/mo for 2017
The tax-free limits for transportation benefits for the calendar year beginning January 1, 2017 remain unchanged, with $255.00 per month for transit, $255.00 per month for parking, and $20.00 per month for bicycle commuting, per IRS Employer’s Tax Guide to Fringe Benefits 2017 (IRS Employers Tax Guide to Fringe Benefits 2017). Additional Information: For
Transit Benefit Parity Established!
As part of the Omnibus Appropriations Bill that was passed by Congress and signed by the President before the 2015 winter break, transit benefits were given permanent parity with parking benefits. Starting January 1, 2016, transit benefit has a monthly maximum of $255.00 per month, up from $130.00 per month, and parking benefits has a
Transit Benefits Remain $130/mo for 2016
The tax-free limits for transit and parking benefits for the calendar year beginning January 1, 2016 are $130.00 per month for transit and $255.00 per month for parking, per IRS Revenue Procedure 2015-53 (https://www.irs.gov/pub/irs-drop/rp-15-53.pdf). See all News Additional Information: For questions or assistance, please call us at 877-587-6236 or email us at support@tranben.com.