Rules Updated for Transit Fare Smart Cards and Qualified Transportation Fringe Benefits

The IRS announced that, beginning after Dec. 31, 2015, employers will no longer be permitted to provide qualified transportation fringe benefits in the form of cash reimbursement in geographic areas where a terminal-restricted debit card is readily available.

Source: http://feedproxy.google.com/~r/AICPA_Tax/~3/M0HOwT47k_w/20141121.aspx

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