Further IRS Flexibility for Flexible Spending Accounts
Tuesday, March 2, 2021 Following up on changes to flexible spending accounts (FSAs) implemented by the December 2020 budget bill (the Consolidated Appropriations Act, 2021), the IRS provided interpretative guidance of its own in Notice 2021-15. As we reported previously, the budget bill provided several new and rather generous rules for both health care and dependent care FSAs, such as the ability to carryover all unused amounts from 2020 into 2021, the ability to carryover all un...
Consolidated Appropriations Act Grace Period Also Help Employees Preserve Prospective Changes Ami Allowed Amend Your Cafeteria Plan Health Care Law
Source: natlawreview.com