On January 11, 2013, the IRS announced that the maximum fringe benefit amount for mass transit is changed from $240 to $245 for 2013 due to inflation.

In order to provide this benefit, employers can exclude up to $245 per month from an employee wages, if that amount is provided for a qualifying transportation fringe benefit. Alternatively, employers may provide employees with a cash reimbursement for a qualifying transportation fringe benefit. Read More.