Delayed Effective Date for Debit/Credit/Smart Cards Used for Qualified Transportation Expenses
According to IRS Notice 2009-95, the effective date for usingdebit or credit cards, or other smart cards, to pay for qualified transportation expenses, has been extended for one year, to January 1, 2011. The reason for the delay is to allow additional time for certain transit systems to modify their technology and make it compatible with the requirements of transit vouchers. In the interim, individuals may rely upon the 2006 guidance (seeSmartcards and Debit Cards Allowed for Qualified Transportation Expenses, Benefit Beat, December 2006).
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