Letocha
Dec 21 2000, 11:34 AM
Has the IRS released a notice either changing or confirming the $175 qualified parking expense limit (from the proposed regulations) for 2001?
Joe Priselac
Dec 21 2000, 03:23 PM
In the latest version of Publication 15-B the IRS stated that the limit for parking reimbursement is $180 per month.
I don't know about Pub 15-B (I couldn't find it); however, the Code Section 132(f) states that qualified parking stays at $175. The IRS can't override the Code, so I doubt the limit is $180.
Steve72
Jan 3 2001, 09:42 AM
Actually, it's Rev.Proc. 2001-13 that ups the limit. According to the advance copy now on RIA's Checkpoint, the limit is now $180.
mdrucker
Jan 25 2001, 04:54 PM