IRS issues guidance on the elimination of the deduction of qualified transportation fringe benefit expenses</strong>&nbsp;

IR-2020-125, June 19, 2020 WASHINGTON — The Internal Revenue Service today issued proposed regulations that provide guidance for the deduction of qualified transportation fringe and commuting expenses. The Tax Cuts and Jobs Act (TCJA) does not allow deductions for qualified transportation fringe (QTF) expenses and does not allow deductions for certain expenses of transportation and commuting between […]