My company pays for my commuter rail or parking. Are the benefits taxable?
No. If your company provides transportation or parking benefits, for 2006 they are tax free up to $105 a month for transit passes and $205 a month for parking. Cash reimbursements are, likewise, reimbursable, so long as the cash comes from a qualified reimbursement program; for transit passes, however, vouchers (if available) must be used to reimburse instead of cash.