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Benefits of Flexible Spending Accounts (FSAs)
Flexible Spending Accounts (or FSAs) are an often-overlooked benefit that you can offer your employees. FSAs come under section 125 of the Internal Revenue Code and allow your employees to convert some of their taxable pay into nontaxable benefits. Healthcare FSAs enable employees to set aside money from each paycheck before the deduction of taxes. Employees…
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Internal Revenue Service released the 2018 annual contribution limits
2018 Annual Contribution Limits. The Internal Revenue Service released the 2018 annual contribution limits related to Flexible Spending Accounts (FSA), Health Savings Accounts (HSA) and all Qualified Retirement Plans. Please see below for the changes to current limits in place and consider sending to your employees asking them to take action if they would like…
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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. The announcements from the IRS are as follows: Rev. Proc. 2016-55 Rev. Proc. 2016-28 Notice 2016-62 As…
Tag: FSA
