The Virginia Labor Law Library:  Qualified Transportation Fringe Benefits

IRS final regulation issued January 11, 2001 regarding qualified transportation fringe benefits (26 CFR Parts 1 and 602).
SUMMARY: This document contains final regulations relating to qualified transportation fringe benefits. These final regulations provide rules to ensure that transportation benefits provided to employees are excludable from gross income. These final regulations reflect changes to the law made by the Energy Policy Act of 1992, the Taxpayer Relief Act of 1997, and the Transportation Equity Act for the 21st Century. These final regulations affect employers that offer qualified transportation fringes and employees who receive these benefits.