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Commuter benefits - employer-provided benefits under section 132(f) of the tax code, covering tax-free transit, vanpool, or parking benefits. Commuter highway vehicle - a tax law term for vanpool as defined in section 132(f)(5)(B). Fare card - a card or ticket that a transit rider can use to ride on a public transit system.
A Qualified Employee Discount is defined in Section 132(c) as any employee discount with respect to qualified property or services to the extent the discount does not exceed (a) the gross profit percentage of the price at which the property is being offered by the employer to customers, in the case of property, or (b) 20% of the price offered for services by the employer to customers, in the ...
Stay updated on the news about taxes, deadlines, deductions, laws, the IRS, and all things related to your income taxes.
This page was last edited on 4 September 2012, at 09:33 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
However, simplifying the tax code could also eliminate many deductions and credits that benefit specific groups, such as low-income families or those with high medical expenses, Yen pointed out.
This is sometimes referred to as the “breadwinner bonus”–and it happens because the tax brackets for married couples are (except for the very rich) twice as large as the brackets for singles.
This page was last edited on 26 February 2018, at 10:28 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
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