Metro-North commuters may be eligible for tax benefits

Some Metro-North commuters may be getting money back in their tax returns due to a new law.



Riders may be eligible to receive up to $255 a month or $1,000 a year for commuting to and from work every day.



Sen. Chuck Schumer told commuters at the White Plains Metro-North train station Monday about the legislation that restores a federal mass transit tax benefit. All residents have to do is tell their employer that they want to fill out a commuter tax form. They will see the benefit at the end of the year.



"It has an escalator clause in it, so that it goes up [each] year to keep up with the cost of inflation. Obviously, a Metro-North ticket goes up, so should the deduction," said Schumer.



The new law is permanent. It also helps employers, who can apply for a payroll tax benefit.



 


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