IRS finalizes qualified transportation fringe benefit regulations

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December 9, 2020
2020-2828

The IRS has issued final regulations (TD 9939) to implement changes that the Tax Cuts and Jobs Act made to IRC Section 274, effective for tax years beginning after December 31, 2017. The final regulations largely track the underlying proposed regulations on qualified transportation fringe, transportation and commuting expenses, which were issued in June 2020 (see Tax Alert 2020-1680).

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