The Tax Cuts and Jobs Act (“TCJA”) has created many changes for individuals and employers, including the way that employers calculate wage withholding for their employees. Employers need to be aware of the new methodologies for calculating individual income tax withholding, and need to prepare for the use of new forms. To that end, the …
Qualified Transportation Fringe Benefits No Longer Deductible for Employers
In the past, employers have been able to deduct expenses related to “qualified transportation fringe benefits” (“QTFBs”) such as qualified parking, transit passes, transportation in commuter highway vehicles, or qualified bicycle commuting reimbursements. Pub. L. No. 115-97, commonly referred to as the “2017 Tax Act” or the “Tax Cuts and Jobs Act” (“TCJA”), however, has …
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