Article Date:
March 2018


Word Count:
501

 

 

Tax Reform Imposes a Penalty Tax on Transportation Fringe Benefits


The recent tax reform destroyed what was a win-win tax benefit for both the employer and the employee as we discussed in Pocket More Cash by Paying Transportation Fringe Benefits.

 

Transportation fringe benefits came into being in 1992 under the Energy Policy of 1992 (Pub. Law. 102-486).

 

One difficulty was that the benefits expired often and worked their way into the group of tax provisions called extenders. No problem; lawmakers extended the transportation benefits provisions continuously from 1992 until they made ... Log in to view full article.

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