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Qualified Transportation Fringe, Transportation and Commuting Expenses Under Section 274

tax-irs · IRS · Rule · Published 2020-12-16 · Effective 2020-12-16 · 85 FR 81391

Document

Document number
2020-27505
Federal Register citation
85 FR 81391
CFR reference
26 CFR 1
Type
Rule
Action
Final Regulations.
Category
tax-irs
Sub-agency
IRS
Publication date
2020-12-16
Effective date
2020-12-16
Treasury docket
TD 9939

Abstract

This document contains final regulations to implement legislative changes to section 274 of the Internal Revenue Code (Code) effective for taxable years beginning after December 31, 2017. Specifically, the final regulations address the elimination of the deduction under section 274 for expenses related to certain transportation and commuting benefits provided by employers to their employees. The final regulations provide guidance to determine the amount of such expenses that is nondeductible and apply certain exceptions under section 274(e) that may allow such expenses to be deductible. These final regulations affect taxpayers who pay or incur such expenses.

Source

Authoritative
Federal Register document
Machine
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