Taxation & Estate Planning

Metro Washington Obtains One Year Extension from the IRS

By Darrin Mish

Washington public transport provider Metro, is set to introduce its new SmarTrip card benefits under their existing SmartBenefits program. Originally the program was due to be implemented January 1st next year but due to its complexity, Metro has applied for a one-year extension from the IRS for its implementation.

Both users of the transit benefits and the operators thereof have expressed their befuddlement at the changes in the system. Thus the IRS has approved Metro's application to delay the start of the new features under the SmartBenefits program by one year. Its changes will now only take effect starting from January 2011.

In the meantime, Metro will introduce upgrades to its SmarTrip electronic fare card system. This will call for upgrades in its electronics and among the new features will be:

- 223 new retail locations at which commuters can now add value to their SmarTrip cards. This is especially beneficial to bus riders who do not usually go anywhere near Metrorail stations. As a result, they now can add value to their cards at these retail locations rather than at a bus fare box.

- A self-service Website feature for commuters to add value or add transit passes to their cards online. Once again, this can be done without using a vending machine or bus fare box. This value-added feature is set to be implemented in phases and is targeted to take effect late spring next year. One important consideration is to make each transaction error-free and completely secure.

- An auto-load feature will be executed in phases so that users can add value or renew their passes at fare gates, fare boxes or parking facilities. This would be done using transit benefits, credit or debit cards. This measure is planned to be implemented next summer.

With so many things on its plate already, the IRS approval of the one-year extension of the implementation of the new SmartBenefits program must be a welcome reprieve for Metro.

Metro Washington Obtains One Year Extension from the IRS is a post from: IRS Tax Problem Solver Blog - IRS Help

Full post as published by IRS Problem Solver Blog on January 04, 2010 (boomark / email).