The IRS just released the 2022 contribution limits for FSAs, Commuter Benefits, QSEHRAs, and more. They also increased the FSA Rollover limit for 2022. The new limits are as follows: Health FSA Max election has increased from $2,750 to $2,850 Dependent Care Elections have remained at $5,000 The FSA Rollover Allowance has increased from $550… Continue reading IRS Announces the 2022 Tax-Exclusion Limits for FSA’s, Commuter Benefits and QSEHRA’s
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IRS Releases 2022 HSA Contribution Amounts and Excepted Benefit HRA Maximum Benefits
The IRS recently issued new 2022 contribution limits for health savings accounts (HSA), which represent the total amount of tax-advantaged dollars that participants can deposit into these accounts. Likewise, the IRS also issued new limits for high-deductible health plans (HDHP) to indicate the total amount individuals and families can expect to spend out-of-pocket on health… Continue reading IRS Releases 2022 HSA Contribution Amounts and Excepted Benefit HRA Maximum Benefits
IRS Releases Guidance on Payroll Tax Deferral
On August 8th, President Trump signed a presidential memorandum directing the Secretary of the Treasury to defer the withholding, deposit, and payment of certain payroll tax obligations. In response to this executive action, the Department of Treasury and Internal Revenue Service issued guidance (Notice 2020-65) concerning the payroll tax deferral (commonly referred to as a… Continue reading IRS Releases Guidance on Payroll Tax Deferral
IRS and DOL Issues Extension of Timelines for COBRA
In response to the COVID-19 Outbreak, the IRS and DOL has issued extensions of timelines affecting COBRA coverage.
IRS Extends HSA Contribution Deadline
The Internal Revenue Service published a series of questions and answers relating to the delay of the tax filing deadline from April 15, 2020 to July 15, 2020 as provided in IRS Notice 2020-18. With regard to contributions to an HSA, the IRS stated the following: “Contributions may be made to your HSA or Archer… Continue reading IRS Extends HSA Contribution Deadline