Washington is at work on two new federal tax proposals that will undoubtedly have impacts on your business. One comes from the IRS and the other from Congress.
The IRS proposal is designed to encourage employers to establish transportation spending accounts. Similar to the day-care and health-care expense accounts employers now set up for their workers, these accounts would allow employees to set aside pre-tax money to pay for some of their commuting costs. The other proposal concerns a House-passed bill that's designed to give taxpayers additional rights when they take up with the IRS.
Joan Szabo is a writer in Great Falls, Virginia, who has reported on tax issues for more than 13 years.
- Employers Council on Flexible Compensation, www.ecfc.org