Topics Covered

Here’s some of what was covered:

• Types of plans and options, how they work, and related design issues.
• What benefits can be offered and how the new qualified bicycle commuting expense benefit differs from the others.
• How to handle carryovers of unused amounts and forfeitures.
• Expense substantiation and other reimbursement hurdles, such as the voucher (1%) rule.
• Current dollar limits for qualified parking, transit pass, vanpooling, and bicycle commuting expenses.
• Which debit card and smartcard arrangements are permissible for what expenses and how do they work? What’s the effect of the IRS’s decision to further delay the effective date of guidance on these issues?
• Can electronic payment cards qualify as vouchers, and how does that affect the substantiation requirements?
• Paperwork and other requirements.