The IRS released Revenue Ruling 2014-32 amending the rules governing commuter benefit plans. The ruling recognizes terminal restricted benefits cards, like the Beniversal Card and eTRAC, as a widely accepted and available means to offer transportation benefits. The ruling further indicates that due to the changes in the market and purchasing options available to participants, cash reimbursement is no longer an accepted means to offer an excludable transportation benefit.
Full text of Revenue Ruling is available at: https://www.irs.gov/pub/irs-drop/rr-14-32.pdf
