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An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
Each state charges the other a transaction fee when the out-of-state transponder is used to pay a toll. About 70% of all electronic transactions on the Indiana Toll Road are done with I-Pass transponders, according to Tollway Authority figures. Until January 1, 2010, the fee was absorbed, and I-Pass users paid twice as many Indiana tolls as I ...
This technology was invented during the 1970s and was implemented throughout the 1980s and 1990s. Today, the fastest growing payment technologies center around smart phones. [1] [2] These devices are beginning to permit tolling authorities new channels of toll collection and communication with drivers. There are a number of mobile applications ...
The Illinois Tollway recently announced its switching from transponders to sticker tags.
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The Internal Revenue Service (IRS) issued guidance regarding the federal tax status involving special payments made by 21 states in 2022, determining that taxpayers in many states will not need to ...
E-ZPass is an electronic toll collection system used on toll roads, toll bridges, and toll tunnels in the Eastern, Midwestern, and Southeastern United States.The E-ZPass Interagency Group (IAG) consists of member agencies in several states, which use the same technology and allow travelers to use the same transponder on toll roads throughout the network.
Another reason California’s payments could be taxable on the federal level is that high-income individuals also qualified for the checks. Joint filers earning up to $500,000 received as much as ...