What do to about transit benefits for 2014

Parity between transit benefits and free parking (at $250/month) was done retroactively for 2014 on December 19, 2014. The IRS has provided guidance for employers that have not yet filed their 4Q Form 941. Guidance covers benefits paid by employers or by employees on a pre-tax basis.

Yes, the new 2015 edition of my tax books, J.K. Lasser's Small Business Taxes 2015 and 1001 Deductions and Tax Breaks, are available from Amazon now!

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