Commuter Benefit Solutions Blog

IRS Announces Commuter Benefits Pre-Tax Limits for 2020

Posted by the Commuter Benefit Solutions Team November 12, 2019

2020TaxLimits-LinkedIn

The IRS released the 2020 pre-tax limits for mass transit and qualified parking. The limits are effective on January 1, 2020.

For 2020, the monthly limit for commuter benefits will be $270. That’s up $5 from the 2019 limit.

Commuter benefits can be used to pay for:

  • Train
  • Bus
  • Subway
  • Trolley
  • Water Taxi
  • Light Rail
  • Ferry
  • Rideshare (Uber Pool, Lyft Shared)
  • Parking, Meter, Garages and Lots
  • Vanpool

It’s important to highlight that employees can participate in both a mass transportation and qualified parking.

Watch the video to learn how commuter benefits work:


If you are interested in commuter benefits, download our 101 Guide to learn more:

Commuter Benefits 101 Guide  Learn How Commuter Benefits Work

 

Topics: Transportation News