Transportation Fringe Benefit Parity Provision
In this tough economy can you afford to double your transportation costs? ACT NOW BEFORE IT'S TOO LATE!
Starting January 1, 2012, the transit benefit monthly pre-tax limit could decrease from $230 to $125. This will go into effect in your 12/31 paycheck (for the January benefit month).
The change applies to mass transit and van pool. The Transportation Fringe Benefit Parity provision of the American Recovery and Investment Act (ARRA) increased the monthly pre-tax maximums back in February 2009. This particular provision of ARRA is set to expire at the end of this calendar year unless Congress passes an extension.
Congress faced the original expiration date of this provision last December, and ultimately extended the expiration by one year at the last minute. That may happen again this year, but there are no guarantees. UNLESS WE ACT!
What does this mean for you? If you have a mass transit or van pool order for more than $125 for the month of January, expect anything above $125 to come out of your paycheck post-tax.
If Congress fails to move on a tax bill and extend the higher pre-tax limits, the transit and vanpool levels will drop down to $125/month until action is taken.
Take Action NOW! Sign this petition
The change applies to mass transit and van pool. The Transportation Fringe Benefit Parity provision of the American Recovery and Investment Act (ARRA) increased the monthly pre-tax maximums back in February 2009. This particular provision of ARRA is set to expire at the end of this calendar year unless Congress passes an extension.
Congress faced the original expiration date of this provision last December, and ultimately extended the expiration by one year at the last minute. That may happen again this year, but there are no guarantees. UNLESS WE ACT!
What does this mean for you? If you have a mass transit or van pool order for more than $125 for the month of January, expect anything above $125 to come out of your paycheck post-tax.
If Congress fails to move on a tax bill and extend the higher pre-tax limits, the transit and vanpool levels will drop down to $125/month until action is taken.
Take Action NOW! Sign this petition
View Comments