What is Revenue Ruling 2014-32?
The IRS released Revenue Ruling 2014-32 amending the rules governing commuter benefit plans. The ruling recognizes terminal restricted benefits cards, like the Beniversal Card and eTRAC, as a widely accepted and available means to offer transportation benefits. The ruling further indicates that due to the changes in the market and purchasing options available to participants, […]
Can I submit claims for mass transit expenses I pay out of pocket?
In accordance with IRS Ruling 2014-32, effective January 1, 2016, you will no longer be permitted to submit mass transit claims for expenses that were paid out of pocket. You can continue to submit claims for parking and vanpool expenses. Vanpool expenses will require a receipt or documentation to verify that the expense is eligible.
Can I receive a reimbursement for mass transit expenses if there is a delay in receiving my card or funding?
Effective January 1, 2016, the IRS rules regarding mass transit expenses changed. The regulations indicate that if a transportation benefits card is readily available, you are not permitted to receive a reimbursement for mass transit expenses. Additionally, because mass transit elections roll into the next benefit month, funds are not lost and therefore you are not permitted […]
Why are my claims for mass transit expenses being denied?
As of January 1, 2016, the IRS amended the rules governing commuter benefit plans and no longer permits claim reimbursement for mass transit expenses.
My employer offers cash reimbursement for mass transit expenses, is this permitted?
Employers are no longer permitted to offer cash reimbursement as of January 1, 2016. If an employer continues to offer cash reimbursement, the value of the benefit will be taxable to employees and included in gross income. Employers can continue to self-administer a commuter benefit program but must follow the updated guidance in Revenue Ruling […]
I am enrolled in a vanpool, which does not accept debit/credit payments. Can I still submit a claim?
Since vanpools may not accept debit /credit payments, claims will still be accepted but must also include a receipt or documentation of the expense to certify it is an eligible expense.
I no longer have my Beniversal / eTRAC Card, how do I get a new one?
If you need to request a new or replacement card, you can do so by logging into your online portal. Under your profile tab, please request to replace your card. If you require further assistance, please contact us at (800) 473-9595, M-F, 8 am-8 pm (Eastern Time). Please see your Cardholder Agreement for more information.
How do I use my Beniversal / eTRAC Card for mass transit expenses?
Virtually all mass transit vendors across the United States accept debit/credit payments. For in-person transactions, simply use your Beniversal or eTRAC Card as the payment method for your expense. For online purchases or recurring expenses, you will enter your 16-digit card number, expiration date and CVV number when prompted for payment.
What is the risk of offering cash reimbursement for commuter benefits?
If cash reimbursement is offered for mass transit expenses after January 1, 2016, the benefit will be taxable to employees and will need to be included in gross income.
My transit expense exceeds the pre-tax limit. What do I do?
If allowed by your employer, your mass transit election should be equal to the full cost of your mass transit expense. Any amount above the pre-tax limit will be taken on a post-tax basis. The full cost will be deducted from payroll and the value added to your Beniversal / eTRAC Card, which will ensure […]
