Internal Revenue Service April 28, 2021 – Federal Register Recent Federal Regulation Documents

Qualified Transportation Fringe, Transportation and Commuting Expenses Under Section 274; Correction
Document Number: 2021-08391
Type: Rule
Date: 2021-04-28
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains corrections to the final regulations (Treasury Decision 9939), that were published in the Federal Register on Wednesday, December 16, 2020. The final regulations provide guidance regarding the elimination of the deduction for expenses related to certain transportation and commuting benefits provided by employers to their employees. The final regulations affect taxpayers who pay or incur such expenses.