The Washington Metropolitan Area Transit Authority (Metro) is focused on SmartBenefits® as the primary means of providing transit benefits. SmartBenefits® is a Web-based program whereby employers assign the dollar value of employees' commuter benefits electronically to employees' SmarTrip® cards.
Set up a SmartBenefits® account online or call 202-962-1326 and choose Option 3 for details. Join the other employers who've discovered how convenient SmartBenefits® really is.
While Metro is pleased to assist employers with the establishment of their SmartBenefits® program, it is the responsibility of each employer to ensure that their program complies with all IRS requirements. We therefore recommend that each employer discuss their program with their own tax advisors to ensure compliance with IRS requirements.
For taxable years beginning in 2013, the monthly limitation under 132(f)(2)(A) regarding the aggregate fringe benefit exclusion amount for transportation in a commuter highway vehicle and any transit pass is $245. The monthly limitation under 132(f)(2)(B) regarding the fringe benefit exclusion amount for qualified parking is $245.
Now you can assign transit benefits directly to SmarTrip® cards for your employees after the standard cutoff date. This convenience allows your employees to immediately claim transit benefits. This dramatically cuts down the time for assigning benefits and enhances program management. For additional information, view the SmartBenefits® AnyTime presentation on the SmartBenefits® website page.