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Regs Issued on Transportation, Commuting Expenses

The Internal Revenue Service has issued final regulations on the deduction of transportation fringe and commuting expenses following changes made by the Tax Cuts and Jobs Act.

 The 2017 law generally disallows deductions for such expenses and does not allow deductions for transportation and commuting expenses between an employee's residence and place of employment.

The final regulations address disallowance of the deductions of expenses related to such benefits provided to an employee of the taxpayer. They provide methodologies for determining the amount of nondeductible parking expenses. 

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