TSB-2017-19 Transit Benefit Monthly Statutory Limit Increase to $260
DOT TRANSIT BENEFIT PROGRAM BULLETIN
BULLETIN #: TSB-2017-19
DATE: November 21, 2017
SUBJECT: Transit Benefit Monthly Statutory Limit Increase to $260
PURPOSE: This Bulletin provides notification and guidance regarding a change in the statutory limit of the monthly transit benefit for calendar year 2018.
INFORMATION: As of January 1, 2018, the maximum mass transit exclusion from income has been set by the Internal Revenue Service (IRS) at $260. IRS Revenue Procedure 2017-58, provides the relevant information on the transit benefit rules on page 14.
REQUIRED ACTION: Ensure participant’s certified monthly commuting costs are current. If changes are necessary, TRANServe will adjust the transit benefit to the monthly maximum statutory limit of $260.00 for the transit benefit starting January 1, 2018.
CONTACT: If you have questions about this bulletin, please contact your TRANServe Transit Benefit Manager.