The Internal Revenue Service has announced the monthly limits on the value of qualified transportation benefits for employer-provided transit passes and qualified parking for 2012 under Internal Revenue Code Sec. 132(f).
I completely missed this important bit of news until Murph brought this to my attention: The maximum amount of the pre-tax transit benefit has nearly doubled from $120 to $230 per month! I currently get the maximum $120 benefit from my employer but still pay $92.75 each month out of my pocket for public transportation. read more »