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The IRS has issued the 2005 monthly limits for qualified transportation
benefits (QTFBs). To reflect changes in the cost of living, the
IRS each year adjusts the monthly limits for QTFBs, which include
employer-subsidized parking, van pools and mass transit vouchers,
passes, tokens and farecards.
For 2005, the limit for monthly exclusions from an employee's income
to pay for qualified parking will increase to $200, a $5 increase
over the $195 monthly limit that was in effect in 2004.
The 2005 monthly limit for exclusions to pay for transportation
in a commuter highway vehicle and for mass transit expenses, such
as transit passes, will be $105, $5 more than the $100 limit that
also was in effect 2002-2004.
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