WageWorks Commuter Benefits Increase 2019
Iconix NY Team:
In 2019, the IRS-mandated limit for pre-tax contributions to commuter benefits accounts are:
- $265 per month for transit expenses.
- $265 per month for parking expenses.
Keep in mind, the pre-tax contribution limit applies to the combined total of both employer and employee contributions. Contributions over $265/ month for transit or $265/ month for parking are loaded onto the card as post-tax contributions.
- Post-tax deductions for contributions over the limits are listed on paychecks.
- Both post- and pre-tax funds can be used for a single transaction.