How do I get my parking benefit?
When you enroll in the Commuter Tax$ave Program you will be asked
to identify where you park. If the parking facility accepts the
TransitChek QuickPay Card, you will be given a Card for use in paying
for parking. If the parking facility currently does not accept the
TransitChek QuickPay Card for payment, you will receive a reimbursement
check or a direct deposit to your bank account for your parking
expenses through our TransitChek CashBack service.
What qualifies as parking for the purpose of receiving a
There are two types of parking benefits. If you drive to work and
pay for parking in the vicinity of, or at your work location, you
are eligible to receive a parking benefit. You are also eligible
if you use a park and ride facility.
What is a park and ride facility?
A park and ride is a parking facility that is used by commuters
to access their primary transit commuting mode such as a train,
bus, ferry or subway. It can be a parking lot attached to a rail
station, for example, or a private parking facility located within
walking distance of the transit stop. A park and ride can also be
a parking facility from which an employee parks their car and commutes
to work by vanpool or carpool.
Can I get a tax benefit for the costs I incur in parking
near or at my residence?
No. You may not receive a parking benefit if you park at or near
What tax benefit can I get for parking?
Currently, an employee may use up to $245/month, $2,940 a year,
of their salary before taxes as a parking benefit.
Can I claim a parking benefit in addition to my transit
benefit if I park at a park and ride, and commute using mass transit?
Yes. If you use transit, and pay for parking at a park and ride
facility, you can claim both expenses as a tax benefit as long as
you do not exceed the limits for each benefit. Thus, if you take
the train for $245/month and pay $245/month for the park and ride,
you can use up to $490/month of your salary before taxes through the Commuter Tax$ave Program
to pay for your commuting expenses.
What is TransitChek CashBack?
TransitChek CashBack is a reimbursement service and is an alternative
method of providing parking benefits to Commuter Tax$ave participants
utilizing a parking facility that does not accept the TransitChek
How do I get a reimbursement check through TransitChek CashBack?
Here’s how it works. Pay for your monthly parking expenses
as you normally would. When you pay for your monthly parking, make
sure you obtain a receipt, if available, so you can be reimbursed
for up to $245 of your parking expense through TransitChek. Use
the TransitChek CashBack Reimbursement Form to submit your reimbursement
claim. Forms are available on our website, from your employer or
you can call to have a form sent to you. Remember to send in your
receipts. TransitChek will mail a reimbursement check directly
to your home or directly deposit the funds into your bank account
usually within two weeks of receipt of your claim.
Can I get a TransitChek CashBack reimbursement check if
my parking lot doesn’t provide receipts?
Yes. If you park at a location that does not give receipts such
as at metered parking spots or where slot boxes are used you may
still file for reimbursement through TransitChek. You will be
required to certify that no receipts were available. TransitChek
will mail a reimbursement check directly to your home or directly
deposit the funds into your bank account.
How much time do I have to file for a TransitChek CashBack
You should file for reimbursement monthly to ensure that you receive
timely reimbursements. However, if you file less frequently please
note that IRS regulations do not permit TransitChek to reimburse
you for expenses that are older than 180 days from the time at which
you incurred the expense.
Do I lose out on the parking benefit if I don’t file
for a reimbursement within 180 days of paying for my parking?
No. We will rollover any available funds
that you did not file for within the 180 day period. You should also make a benefit adjustment
to take account of funds you rolled forward
to offset future scheduled payroll deductions.
If I submit a parking reimbursement claim that is less than
the funds that I have set aside for one month, will you reimburse
me for the remainder of the claim from the following month’s
Federal law prohibits using pretax deductions from one month to
pay for parking expenses in another month. You may only be reimbursed
for the parking expenses that you incurred in the month that it
occurred from the amount of your pretax salary that you deducted
for that month.
Will my TransitChek CashBack checks be reported to the IRS
No. The TransitChek CashBack checks are completely tax-free.