November 09, 2017

Qualified transportation benefits and adoption assistance benefit limits for 2018

Team Ceridian

Our experts provide timely, essential insights and analysis for HCM leaders. We share fresh strategies and practical tips for businesses of all sizes, thoughts on hot topics and industry trends, and the latest legislative updates.

Details of the Change:

Effective January 1 2018, the Internal Revenue Service (IRS) announced the cost of living adjustments (COLAs) related to limits on certain qualified benefits exclusions including:

  • Qualified Transportation Benefits Exclusion
  • Adoption Assistance Exclusion

1. Qualified Transportation Benefits Exclusion

  • The monthly limit on the value of qualified parking increased by $5 from $255 for 2017 to $260 in 2018.
  • The monthly limit on the value of transportation in a commuter highway vehicle and transit pass also increased by $5 from $255 for 2017 to $260 in 2018.

2. Adoption Assistance Exclusion

  • The maximum amount that may be excluded from an employee's gross income annually for the adoption of a child will increase by $270 from $13,570 in 2017 to $13,840 in 2018.
  • The maximum adoption credit allowed to an individual for the adoption of a child will also increase by $270 from $13,570 in 2017 to $13,840 in 2018.

Thanks for signing up!

You’ll receive our next newsletter when it becomes available.

Sign up for our newsletter

Get the latest thought leadership from Ceridian
See the Ceridian Privacy Policy for more details.

Other posts you may like

© Ceridian HCM, Inc. All Rights Reserved.    Privacy    Terms
×
Find anything about our product, search our documentation, and more. Enter a query in the search input above, and results will be displayed as you type.