The IRS has published Rev.Proc 2008-66, setting forth inflation adjustments for 2009. Included in these adjustments are new Section 132 items. The aggregate fringe benefit exclusion amount for transportation in a commuter highway vehicle and any transit pass is now $120 (up from $115) and the monthly limitation for fringe benefit exclusion amount for qualified parking is now $230 (up from $220).

To read Rev.Proc 2008-66 in its entirety, click here.