The following article appears in NJ Transit’s FYI Customer Update, February 2011:
Congress has continued the $230 monthly pre-tax commuter transit benefit allowance through Dec. 31, 2011.
Under the American Recovery and Reinvestment Act, the pre-tax payroll deduction limit for transit was increased to $230 per month on March 1, 2009, while maintaining the existing $230 limit for parking expenses.
Through commuter tax benefits, employees save on income taxes when they use pre-tax salary toward their mass transit commute and/or qualifying parking benefit. Employers also save on payroll taxes for each participating employee by lowering payroll costs. To find out how you can participate, visit www.njtransit.com/taxbenefits.
The extension of the commuter tax benefit was part of the Middle Class Tax Relief Act of 2010 passed by Congress on December 16, 2010.
Several weeks ago the state rolled out a new employment program targeted at TANF (Temporary Assistance for Needy Families) households and New Jersey employers. It is the best program to come along in a long, long time. So if you are receiving cash assistance for yourself and your family please read on. If you work for a nonprofit read on and tell your clientele.
The Department of Labor and Workforce Development has created a subsidized employment program for Work First New Jersey TANF clients. The goal of the program is to create jobs for TANF clients that may become permanent or provide work experience that will lead to an unsubsidized job with a different employer. Under the state guidelines WorkPAYS will reimburse employers 100% of the hourly wages for a period of six months. The program is time-limited. It begins March 1 and ends September 30, 2010.
TANF clients should contact their Work First New Jersey Case Manager for more details and to receive a “Dear Employer” letter which they can present to prospective employers. Interested employers would be contacted by Department of Labor and Workforce Development (LWD) personnel.
Additional information to job seekers is available online on the LWD website.