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Employer Group Health Plans Flexible Spending Accounts Internal Revenue Service

Holland & Hart - The Benefits Dial

Nobody Puts Baby In the Corner . . . And the IRS Agrees, Providing Guidance on the Taxability of Dependent Care Assistance...

Yesterday the IRS released Notice 2021-26, which clarifies that if eligible dependent care benefits would have been excluded from income if used during either the prior tax year (2020 or 2021), these benefits remain...more

Foley & Lardner LLP

Form and Substance: Why the Form of a Transaction is so Critical to Employee Benefits and Executive Compensation Strategy

Foley & Lardner LLP on

The form of a corporate transaction sets the stage for the employee benefits and executive compensation (EBEC) strategy – in the scope of due diligence and purchase agreement negotiations and post-closing activity. The charts...more

Fox Rothschild LLP

A Guide For Employers To The American Rescue Plan Act

Fox Rothschild LLP on

The American Rescue Plan Act of 2021 is an enormous and intricate piece of legislation that has direct consequence for employers. Signed into law by President Joe Biden on March 11, 2021, ARPA mandates several important...more

Dickinson Wright

IRS Issues Guidance on the CAA Changes for Flexible Spending Accounts: Good News for Participants but Additional Administrative...

Dickinson Wright on

The IRS recently issued Notice 2021-15 to provide guidance on certain provisions of the Consolidated Appropriations Act of 2020 (the "CAA") affecting the administration of flexible spending accounts ("FSAs"). The CAA changes...more

Holland & Hart - The Benefits Dial

Whoomp There It Is…The IRS Issues Further Flexible Spending Account Relief under Notice 2021-15

Earlier this year, Bret Busacker explained the FSA relief enacted as part of the Consolidated Appropriations Act, 2021 (CAA) in a blog post titled “Bridge Over Troubled Water: 2021 Flexible Spending Account Relief in the...more

Fisher Phillips

Overview Of Employee Benefit Provisions In The Consolidated Appropriations Act

Fisher Phillips on

The Consolidated Appropriation Act of 2021 was signed into law on December 27, 2020 and is an impressive 5,593 pages. According to the Senate Historical Office, the Act is the longest bill ever passed by Congress. Buried...more

Perkins Coie

IRS Clarifies Extended Cafeteria Plan Relief

Perkins Coie on

Much of the previous relief that had been granted to cafeteria plans during the COVID-19 pandemic was set to expire after 2020. In late December, though, Congress passed the Consolidated Appropriations Act, 2021 (CAA), which...more

Foley & Lardner LLP

IRS Provides Further Flexibility for Flexible Spending Accounts

Foley & Lardner LLP on

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. ...more

Bradley Arant Boult Cummings LLP

Top 20 Takeaways from Notice 2021-15 for Employers with Cafeteria Plans

In Notice 2021-15, the IRS provides many answers to questions regarding the temporary special rules introduced as part of the Consolidated Appropriations Act, 2021 (CAA) for health flexible spending accounts (health FSAs) and...more

Stinson LLP

IRS Guidance on CAA Coronavirus Relief for FSAs, DCAPs and Cafeteria Plans

Stinson LLP on

On February 18, 2021, the IRS issued Notice 2021-15, clarifying temporary special rules for cafeteria plans, health flexible spending accounts (FSAs) and dependent care assistance programs (DCAPs) that were included in the...more

Stinson - Benefits Notes Blog

IRS Guidance on Coronavirus Relief for FSAs, DCAPs, and Cafeteria Plans: Almost Anything Goes

On February 18, 2021, the IRS issued Notice 2021-15, clarifying temporary special rules for cafeteria plans, health flexible spending accounts (“FSAs”), and dependent care assistance programs (“DCAPs”) that were included in...more

Bradley Arant Boult Cummings LLP

New Temporary Special Rules for Flexible Spending Accounts

The president has signed into law the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which includes several temporary special rules aimed at minimizing forfeitures and increasing the utility of health and dependent...more

Fisher Phillips

2021 Limits for Benefit Plans

Fisher Phillips on

The IRS has announced the 2021 dollar limits impacting retirement plans and IRAs. The agency also issued welfare plan limits, as well as ACA penalties. The chart below summarizes these 2021 figures along with the...more

Snell & Wilmer

COVID-19 and Cafeteria Plans – To Amend or Not to Amend?

Snell & Wilmer on

On May 12, the IRS issued Notice 2020-29 “COVID-19 Guidance Under Section 125 Cafeteria Plans and Related to High Deductible Health Plans” and Notice 2020-33 “Section 125 Cafeteria Plans – Modification of Permissive Carryover...more

Troutman Pepper

COVID-19 Impact for Health & Welfare Plans (Troutman Sanders and Pepper Hamilton COVID-19 Issues for Employers Podcast Series)

Troutman Pepper on

Troutman Sanders and Pepper Hamilton are producing a series of podcasts to discuss employee benefits, executive compensation, and labor and employment issues that employers are confronting in light of the COVID-19 pandemic,...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - COVID-19 Edition; New Opportunities for Health Flexible Spending Arrangements and...

Williams Mullen on

On the latest episode of Williams Mullen's Benefits Companion, host Brydon DeWitt discusses new opportunities that the IRS and COVID-19 legislative relief have created for health flexible spending and cafeteria plans....more

Polsinelli

Employers Required To Extend Group Health Plan Timeframes Retroactively While Other Timeframes Are Relaxed

Polsinelli on

New guidance issued by the Department of Labor, Internal Revenue Service, and Health and Human Services requires group health plans to disregard certain timeframes and deadlines related to...more

Lowenstein Sandler LLP

IRS Temporarily Flexes Rules for Flex Benefit/Section 125 Plans (EBEN)

Lowenstein Sandler LLP on

IRS Notice 2020-29 gives employers new opportunities to help employees who participate in Section 125 plans deal with COVID-19.  Under Notice 2020-29, employers can allow participants and eligible employees of their Section...more

Miller Canfield

Employer Action Required to Take Advantage of Guidance for Cafeteria Plans

Miller Canfield on

The Internal Revenue Service (“IRS”) has issued two important notices allowing employer-plan sponsors to amend their §125 cafeteria plans to provide employees with increased flexibility for elected benefits and account...more

Holland & Knight LLP

IRS Offers Greater Flexibility for Section 125 Cafeteria Plans in Response to COVID-19 Pandemic

Holland & Knight LLP on

The Internal Revenue Service (IRS) issued Notice 2020-29 and Notice 2020-33 on May 12, 2020, to provide relief from the COVID-19 pandemic (COVID-19) for taxpayers participating in Section 125 cafeteria plans. The provisions...more

Eversheds Sutherland (US) LLP

The IRS shows off its flexibility: Guidance for cafeteria plans, flexible spending accounts, and high deductible health plans

As the COVID-19 global pandemic continues to impact employers, the IRS has been looking for ways to provide some additional flexibility to employer-sponsored benefit plans. In the past week, the IRS released two notices aimed...more

Dickinson Wright

Benefits Briefs in the Time of COVID-19, Part 9: Additional Flexibility for Cafeteria Plans; Increase in Health FSA Carryover...

Dickinson Wright on

In Notice 2020-29, the IRS gave plan sponsors additional flexibility to allow participants to make certain mid-year cafeteria plan election changes during calendar year 2020 without regard to the restrictions that typically...more

Woods Rogers

COVID-19: New IRS Relief Allows Health Plan and Flexible Spending Account Election Changes

Woods Rogers on

On May 12, 2020, the IRS issued guidance (IRS Notice 2020-19) to allow temporary changes to section 125 cafeteria plans.  These plans allow participants to pay their portion of health insurance premiums and contribute to...more

Patterson Belknap Webb & Tyler LLP

COVID-19 Update: New Section 125 Cafeteria Plan Relief and Guidance

The Internal Revenue Service (“IRS”) recently issued Notice 2020-29 and Notice 2020-33 which allow employers to provide various new types of relief to employees participating in Section 125 cafeteria plans (including flexible...more

McNees Wallace & Nurick LLC

IRS Provides Increased Flexibility in Section 125 Cafeteria Plans

IRS guidance, Notice 2020-29 and 2020-33, issued on May 12, 2020 addresses unanticipated changes in health and dependent care expenses because of the 2019 Novel Coronavirus (COVID-19) pandemic by  providing for increased...more

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