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Internal Revenue Code of 1986

The main body of federal tax law in the United States, outlining how taxes are collected and what is taxable.

Fringe Benefit

An extra benefit supplementing an employee's salary, such as a company car, health insurance, or commuting assistance.

Qualified Bicycle Commuting Benefit

A specific type of employer-provided benefit for bicycle or scooter commuters that, under certain conditions, is not counted as taxable income for the employee.

Electric Bicycle

A bicycle with fully operable pedals, a seat, and an electric motor (under 750 watts) that assists the rider, typically up to a certain speed limit.

Bikeshare

A service that allows individuals to rent bicycles or scooters for short periods for point-to-point travel within a defined area.

Constructive Receipt

A tax principle that dictates when income is considered received by an individual, even if not physically in their possession. In this context, it refers to a rule that previously prevented employees from receiving both bicycle and other transportation benefits tax-free.