IRS Proposed Rules Address TCJA's Elimination of Deduction for Qualified Transportation Fringe Benefit Expenses | Practical Law
The Internal Revenue Service (IRS) has issued proposed regulations addressing the Tax Cuts and Jobs Act's (TCJA's) disallowance of a tax deduction for expenses for certain qualified transportation fringe benefits provided by employers to employees. The proposed regulations address the treatment of qualified transportation fringe benefits and transportation and commuting expenses under Section 274 of the Internal Revenue Code (Code). The proposals expand on IRS guidance from December 2018 (Notice 2018-99) regarding the TCJA's changes.