New answers tagged benefits
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These transportation pretax accounts come with a risk. You can forfeit the funds because you are not supposed to use them after your last day of work. You can't get a refund, and you can't convert them.
Most programs place the funds onto a card that can only be used at specific types of businesses. The local mass transit system actually knows which funds ...
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A.) Move these funds back into my paycheck (I understand this would come with a standard income tax rate and a penalty),
So from what I can tell from:
26 CFR § 1.132-9 - Qualified transportation fringes.
Q-14. When must the employee have made a compensation reduction election and under what circumstances may the amount be paid in cash to the employee?
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