New Mass Transit Benefits
American Taxpayer Relief Act of 2012 Equalizes Mass Transit Limit and Parking Benefits to $245
Late last Tuesday, Jan., 1st as 2013 was just getting off the tarmac, the House of Representatives finally saw their way clear to approve the Senate’s “American Taxpayer Relief Act of 2012,” which returns with the equalization of benefits for parking and mass transit used by employees dating back to 2010 and 2011. Simply, this means that the mass transit limit for 2013 has been increased from $125 to $245 which is now on par with parking benefits. According to The Harrison Group, employees can amend their transit elections at any time, subject to their individual plan provisions.
As always, The Harrison Group will continue to keep you informed on new legislative developments, and if you have any further questions or need additional information, please call THG’s President, Rich Miller at 610-853-9075 or e-mail email@example.com.