IRS Provides Further Flexibility for Flexible Spending Accounts
By EsqSocial Corporation 03/03/21
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 unused amounts from 2021 into 2022,...
By: Foley & Lardner LLP