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Medical Mileage
Monthly Parking Maximum is Increased to $220 and Transit Maximum is Increased to $115 for 2008
On October 18, 2007, the IRS released the new 2008 monthly maximums for qualified parking expenses and qualified transit expenses reimbursed under a qualified transportation fringe benefit plan. Beginning January 1, 2008, the monthly limit for parking will increase to $220 (up from $215 for 2007) and the monthly limit for transit and van pooling will increase to $115 (up from $110 for 2007).