Here’s What’s Changed For The 2022 Tax Season
- By
Julia Austin
A Small Break On Commuting Expenses
Source: Visual Vic / Getty
If you previously took advantage of qualifying transformation and parking fringe benefits, you can use a bit more for 2022. Transformation fringe benefits allow employees or employers to use pre-tax dollars to pay for qualifying expenses to cover commuting to or parking at work. More specifically, it allows employers or employees to have pre-tax dollars withheld from their paychecks to cover these expenses.
The monthly limitation on this benefit for 2021 was $270 and for 2022 it is up to $280. That’s $280 for commuting costs, and parking costs, respectively.
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