EMPLOYMENT TAX

Notice 2007–76, page 735. This notice delays the effective date of Rev. Rul. 2006–57, 2006–47 I.R.B. 911. Rev. Rul. 2007–57 provides guidance to employers on the use of smartcards or other electronic media to provide qualified transportation fringes under sections 132(a)(5) and (f) of the Code. The guidance is intended to provide relief to mass transit providers that are currently finding it difficult to update their present systems in order to comply with the Rev. Rul. 2006–57 guidelines prior to the effective date. Rev. Rul. 2006–57 modified.