NEWS

IRS Announces 2008 Commuter Benefits Pre-Tax Limit Increases

SAN MATEO, CA -October 29, 2007 - The Internal Revenue Service (IRS) has announced its 2008 commuter benefits pre-tax contribution limits in its amended Section 132(f) document.

For commuter highway vehicle and transit passes, the 2008 limit is $115, an increase of $5 from the 2007 $110 limit. For qualified parking expenses, the 2008 limit is $220, also up $5 from the 2007 $215 limit.

The new limits take effect January 1, 2008 and will be reflected in WageWorks' commuter program and related communications.