The IRS Releases 2017 Annual Benefit Limits

The Internal Revenue Service (IRS) released the 2017 annual contribution limits related to Flexible Spending Accounts (FSA), Health Savings Accounts (HSA) and all Qualified Retirement Plans.

Please see below for the small changes to current limits in place.

IRS 2017 limited benefits

The announcements from the IRS are as follows:
Rev. Proc. 2016-55
Rev. Proc. 2016-28
Notice 2016-62

As always, consult your HR department with any questions on these limits. Don’t have an internal HR department? Tandem HR is a Chicago area Professional Employer Organization (PEO) that assists hundreds of small and mid-sized businesses with their everyday HR needs. They also help clients save time and money while growing their business by taking on the administrative tasks associated with human resources, benefits, payroll, tax administration, regulatory compliance and risk management.

Call 630.928.0510 or fill out the form and one of our Business Development Managers will contact you.

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