Transit tax benefit
Recent congressional action created parity between the Federal parking tax benefit and the transit tax benefit. The result was that a transit rider can now claim up to $255 per month free of Federal tax towards the purchase of transit service. This benefit obtained through an employer provides up to a 40% savings. The increase from $130 ( which only fully covered Metra Fare Zones A-C) to $255 means more than 30 additional stations ( in zones D-J) on the Metra Electric District and Rock Island Division in the South Suburbs are now fully covered.
Information on how to sign up is detailed here:
Transit Benefits: It’s the RIDE Thing to Do Contact: Roxann Galvan Transit Benefit Program Manager Regional Transportation Authority email@example.com
If you’re looking for a way to save on your commuting costs, consider signing up for the Regional Transportation Authority (RTA) Transit Benefit Fare program. It’s a great benefit that saves employees up to 40% annually on commuting costs while also reducing the company’s payroll taxes. It’s simple to enroll and the cost savings and environmental benefits are priceless. Read more.