Covid-19 Changes Included in Final Commuting Tax Rules (1)

The IRS offered several adjustments in final rules on commuter benefits to help taxpayers grappling with the Covid-19 pandemic.

The final rules (T.D. 9939; RIN: 1545-BP49), released Wednesday address changes from 2017 tax law, which eliminated deductions for some corporate fringe benefits under tax code Section 274. The agency had asked for feedback on how the pandemic has impacted commuting in the proposed version, released in June.

“The ongoing COVID-19 pandemic highlights that taxpayers may experience significant variations in employee parking during the taxable year due to a national emergency or other type ...