These new limits were recently announced by the IRS and will go into effect beginning January 2014 unless legislative action is taken to extend or make permanent the current provision.
Why is this important?
We need legislative action to stop the monthly tax-free mass transit limits from being lowered.
This hurts everyone that really needs it.
Effective January 1, 2014, the monthly tax-free mass transit limit has been reduced from $245 to $130.
