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- Important news about the switch from Metrochek to SmartBenefits
We told you last fall that the Washington Metropolitan Area Transit Authority (WMATA) is focusing on SmartBenefits® as the primary means of providing transit benefits. SmartBenefits® is a Web-based program whereby employers load the dollar value of employees' Metrochek commuter benefits electronically onto their SmarTrip® cards.
In addition to Metrorail and Metrobus, SmarTrip® is now accepted on DASH, Ride On, Fairfax Connector, CUE, Loudoun County Transit and registered vanpools. The remaining commuter bus and rail systems will accept SmarTrip® soon.
It’s never been a better time to switch from paper Metrocheks to SmartBenefits®. And it couldn’t be easier to sign up. Go to MetroOpensDoors.com and click on SmartBenefits®. Or call 202-962-1326 and choose Option 1 for details. Join the other employers who’ve discovered how convenient SmartBenefits® really is.
- SmartBenefits/Metrochek
and Parking Benefits for CY 2008
According to IRS Revenue Procedure 2007-66, dated November
2007, for
taxable years beginning in 2008, the monthly limitation
under Section
132(f)(2)(A) regarding the aggregate fringe benefit exclusion amount
for
vanpools (commuter highway vehicles) and transit passes increases from $110 to $115.
The
monthly limitation under Section 132(f)(2)(B) regarding
the fringe benefit exclusion amount for qualified parking
is $220.
The IRS link where you can obtain a copy of this document
is: http://www.irs.gov/pub/irs-drop/rp-07-66.pdf.
These limits are found under section .13 "Qualified
Transportation Fringe" on
page 12.
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