IRS Offers Relief for 2018 Taxes on Parking Benefits

Overview


David Fuller commented on the Internal Revenue Service’s guidance on how employers can calculate the tax on qualified parking benefits. “The guidance may have a disproportionately negative impact on employers that own their parking lots and incur large continuing expenses for upkeep…” Fuller said. “Employers, such as those in large cities, that pay a fixed amount to lease parking spots or have parking spots included as part of a larger lease, will be significantly less affected.”