Left Spinning our Pedals
As most of you are likely aware, starting in January there is a new law on the books to put a little money back in the pockets of bicycle commuters. Unfortunately, the IRS has left bike commuters and employers somewhat high and dry, providing very little detail about how the program should be implented. I happened upon a good summary article on a blog at NorthWestern. I think these two paragraphs sums up the issue nicely
“There are no new publications out there,” said IRS spokeswoman Sue Hales. “Whether there is going to be additional guidance coming out, I’m not sure.”
Hales said the best place for interested commuters to go for information about all commuter benefits, including the new bicycle benefit, is IRS publication 15-B.
Who has the time to read through reams of IRS publications? I sure don’t. Fortunately, the League of American Bicyclists have taken the time to summarize the benefit in a single page. If you are interested in the benefit, who wouldn’t be?, or are trying to pursuade your employer to support the new benefit, this webpage would certainly be worth a read.