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Internal Revenue Service › Employee Benefits › Parking Lots

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Williams Mullen

New Parking Expense Rules for Taxable Employers and Tax-Exempt Organizations

Williams Mullen on

The Internal Revenue Service issued guidance last December to help employers that own or lease employer parking facilities or reimburse employees for parking expenses to navigate the recent change to the parking expense...more

McDermott Will & Emery

Free Parking Only Exists in Monopoly: New IRS Guidance Makes Employer-Provided Parking More Costly and Burdensome Than You Think

McDermott Will & Emery on

As part of its comprehensive 2017 tax reform bill, Congress repealed deductions for Qualified Transportation Fringes including for employer-provided parking, while also requiring that tax-exempt organizations increase their...more

Dickinson Wright

Structuring A Parking Reimbursement Plan As A Taxable Or Tax-Free Fringe Benefit

Dickinson Wright on

In Information Letter 2017-0007, the IRS analyzed an employer’s parking reimbursement arrangement and concluded that it was not a tax-free fringe benefit. ...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Reminds Employers Value of “Free” Parking May Be Taxable Fringe Benefit

Ogletree, Deakins, Nash, Smoak & Stewart,... on

A recent Information Letter issued by the Internal Revenue Service (IRS) on the taxation of employer-provided parking, although noncontroversial, serves as a useful reminder that “free” parking for employees may result in...more

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