WASHINGTON — More relief could be coming soon for your wallet, if your commute takes you to the District.
A new D.C. law set to go into effect Jan. 1 will require any business inside the District that employs at least 20 people to offer transit commuter benefits to its employees.
Many workers already benefit from these tax savings by deducting from their paychecks a maximum of $130 a month before taxes to use for transit costs. The IRS also allows people who drive to work to deduct a maximum of $250 a month for parking fees, but the D.C. law only requires the transit benefits to be offered.
Companies can offer to pay directly for their employees’ commutes into work.
The Washington Post reports that city and Metro officials hope this expanded benefit will encourage more commuters to use mass transit to and from work.
These benefits are expected to save commuters hundreds of dollars each year on money that would have otherwise been spent on federal taxes.
