Transit benefit cap to be raised to $255 in 2016
An end of year tax deal has been passed by the U.S. Congress and signed by the president. The deal includes a provision that raises the maximum tax-exempt transit and vanpool benefits employers can provide, to equal the maximum allowed for parking benefits. The monthly cap on transit, vanpool, and parking benefits will increase to $255 per month starting January 1st, 2016.
CommuterDirect.com and Commuter Store Customers
The increase in the federal benefit cap does not mean your benefit will automatically increase. It will depend on your employer. If your employer increases the amount of your commuting benefit, you will be able to apply the increased amount to your monthly CommuterDirect.com or Commuter Store order starting with your February order. Make the necessary adjustments with your employer first, then update the SmartBenefits/Prepaid Card promise amount in your CommuterDirect.com account. Update your account between Jan. 1 and Jan. 15 to apply the increased benefit to your order for February. Choose a link below for step-by-step instructions for updating your account.
CommuterDirect.com Customers: How to change your SmartBenefits Allocation<http://www.commuterpage.com/pages/tools-resources/commuter-store-commuter-direct/how-to-change-your-smartbenefits-allocation/commuterdirectcom-customers/>
Commuter Store Customers: How to change your SmartBenefits Allocation<http://www.commuterpage.com/pages/tools-resources/commuter-store-commuter-direct/how-to-change-your-smartbenefits-allocation/commuter-store-customers/>