News & Analysis as of

Internal Revenue Service Flexible Savings Accounts (FSAs)

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Miller Canfield

2026 Inflation-Adjusted Health and Welfare Plan Limits

Miller Canfield on

On May 1, 2025, the IRS released Rev Proc 2025-19 which updated for 2026 the limits applicable to certain health and welfare plans, including the following key limits...more

Foster Swift Collins & Smith

IRS Announces 2025 Cost-of-Living Adjustments for Retirement Plans and for Health and Welfare Benefit Plans

The IRS has announced the 2025 cost-of-living adjustments for retirement plan and health and welfare benefit plan limitations. The charts below set forth the applicable limitations....more

Miller Canfield

2025 Inflation-Adjusted Plan Limits

Miller Canfield on

On Nov. 1, 2024, the IRS published its annual cost of living adjustments for various retirement plan limits. These increases are more modest than recent years, a reflection that inflation is slowing....more

Bowditch & Dewey

Big Increase in 2024 Estate Exemption – IRS Issues 2024 Inflation Adjustments

Bowditch & Dewey on

The IRS recently issued the 2024 annual adjustments for numerous tax provisions, including changes to tax brackets and standard deductions. Popular adjustments include...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Emphasizes Health FSA and Dependent Care Assistance Program Substantiation Requirements

On April 28, 2023, the Internal Revenue Service’s (IRS) Office of Chief Counsel released guidance reiterating claims substantiation rules for health flexible spending arrangements (health FSAs) under Internal Revenue Code...more

McDermott Will & Emery

IRS Issues Reminder That Claims Under Health and Dependent Care FSAS Must Be Substantiated

McDermott Will & Emery on

In a recently issued Chief Counsel Advice memorandum, the Internal Revenue Service (IRS) reminded sponsors of health and dependent care flexible spending arrangements (FSAs) of their obligation to properly substantiate claims...more

Harris Beach Murtha PLLC

IRS Reiterates Substantiation Requirements for Health and Dependent Care FSAs

The IRS’s Office of Chief Counsel recently released Chief Counsel Advice Memorandum Number 202317020, which reiterates the longstanding substantiation requirements that apply to claims for payment or reimbursement of expenses...more

Foley & Lardner LLP

IRS Clarifies Ability to Reimburse Certain Programs Under HSAs, FSAs and HRAs

Foley & Lardner LLP on

On March 17, 2023, the Internal Revenue Service (IRS) released updated guidance on whether certain costs related to substance abuse programs, exercise programs, wellness and general health qualify as medical expenses under...more

Proskauer - Employee Benefits & Executive...

IRS Announces 2023 Increases to Health FSA and Transportation Fringe Benefit Limits

On October 18th, the IRS announced a slew of inflation adjustments for 2023, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified...more

Eversheds Sutherland (US) LLP

COBRA subsidy strikes again with IRS guidance in Notice 2021-31

The American Rescue Plan Act (the Act) included certain temporary COBRA subsidy provisions that allow “Assistance Eligible Individuals” (AEIs) to receive COBRA subsidies from April 1, 2021 to September 30, 2021 (the...more

Harris Beach Murtha PLLC

IRS Says COVID-19 PPE Expenses Are Deductible or Reimbursable Tax-Free

Just think of the many dollars you spend on face masks, hand sanitizers and sanitizing wipes to help you and your family prevent the spread of the coronavirus disease (COVID-19). It all adds up very quickly and can make a...more

McDermott Will & Emery

Weekly IRS Roundup March 29 – April 2, 2021

Presented below is our summary of significant Internal Revenue Serve (IRS) guidance and relevant tax matters for the week of March 29, 2021 – April 2, 2021. March 29, 2021: The IRS issued Notice 2021-21 and an...more

Seyfarth Shaw LLP

IRS Announces 2021 Limits for Certain Health and Fringe Benefit Options

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Seyfarth Synopsis: The IRS has announced the adjustments to key limits for certain health and welfare benefit programs, including HDHP deductibles, HSA and FSA contributions, and other fringe benefit options for 2021....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Use It, but Don’t Lose It: New Stimulus Law Extends Time to Spend Down 2020 Health FSA and Dependent Care Balances

Employers will now have additional options to address participants’ unspent contributions to dependent care or health flexible spending accounts (FSAs) resulting from the COVID-19 pandemic. The Consolidated Appropriations...more

Kilpatrick

2021 Health and Fringe Benefit Limits

Kilpatrick on

For calendar year 2021, the Health FSA contribution limit and the parking and transit limits remain the same. Other limits increase only slightly....more

Bricker Graydon LLP

COVID-19 relief for health plans and participants: Employers and employees get mid-year break on cafeteria plan changes and COBRA...

Bricker Graydon LLP on

The IRS recently issued Notice 2020-29, allowing §125 cafeteria plans and high-deductible health plan (HDHP) changes during the remainder of 2020....more

Seyfarth Shaw LLP

All Bets Are Off: IRS Issues New Playbook for Section 125 Plans During Pandemic

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On May 12, the IRS released Notices 2020-29 and 2020-33, which collectively provide various forms of relief under the existing IRC Section 125/129 rules in light of the COVID-19 pandemic. ...more

Kilpatrick

2020 Health and Fringe Benefit Plan Limits

Kilpatrick on

Today, the IRS released the annual adjustments for health FSAs, transportation plans and employer adoption assistance benefits. The following chart indicates these new limits, along with other health plan limits applicable...more

Schwabe, Williamson & Wyatt PC

2019 Benefit Limits

The Internal Revenue Service and Social Security Administration have announced the various retirement plan benefit and employment tax limits for 2019. Certain limitations will not change for 2019 because they are not subject...more

Poyner Spruill LLP

2018 Limits for Benefit Plans

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We can provide valuable, preventive advice that enhances your bottom line in a wide range of situations. ...more

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