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Commuters catching buses and trains may also snare bigger tax break

The pretax benefit for commuters who ride trains and buses will increase to $255 a month next year and be permanently on par with the tax break for people who drive to work and pay to park their cars, under legislation passed by Congress on Friday and sent to the White House.

The employer-administered benefits have been uneven under the tax code in recent years. While the Internal Revenue Service currently allows up to $130 a month of an employee’s pretax income to be set aside for public transit fares, it permits as much as $250 per month for parking benefits…Please click here to read Jon Hilkevitch’s story in the Tribune.

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