News
Parking and Transit Maximums Increase for 2007
Monthly Parking Maximum is Increased to $215 and Transit Maximum is Increased to $110 for 2007
On November 9, 2006, the IRS released the new 2007 monthly maximums for qualified parking expenses and qualified transit expenses reimbursed under a qualified transportation fringe benefit plan. Beginning January 1, 2007, the monthly limit for parking will increase to $215 (up from $205 for 2006) and the monthly limit for transit and van pooling will increase to $110 (up from $105 for 2006).