Transit Account Administration
Under the provisions of Internal Revenue Code (IRC) Section 132(f), employers are allowed to offer eligible employees the option to direct a portion of their salary into reimbursement accounts to pay for work-related parking or mass transit expenses on a pre-tax, salary reduction basis.
Benefit highlights include:
- Reduce employee carbon footprint
- Increase employee satisfaction
- Reduce employee costs*
*employees don’t pay income, Social Security or FICA taxes on these expenses.
What Qualifies for Transit Reimbursement?
- Qualified Parking Expenses
- Transit Passes and Fare Card Costs
- Commuter Highway Vehicle