Updated: Transit Tax Benefit to Expire?

Update: 12/21/10

The benefit is safe for 2011.

Original post: 11/23/10

Part of the stimulus bill was a provision that allowed employer-provided transit benefits to be deductible expenses at the same level as parking: up to $230 per month.

That provision will expire in January and the cap on deductible transit benefits will return to $120 per month.

T4America has a petition drive going to ask Congress to keep the limit equal between driving and transit.

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