IRS Notice 2013 -71 now permits § 125 cafeteria plans to be amended to allow up to $500 of unused amounts remaining at the end of a plan year in a health FSA to be paid or reimbursed to plan participants for qualified medical expenses incurred during the following plan year, provided that the plan does not also incorporate the grace period rule. This carryover of up to $500 does not affect the maximum amount of salary reduction contributions that the participant is permitted to make under §125(i) of the Code ($2,500 adjusted for inflation after 2012). This carryover option provides an alternative to the current 2½ month grace period rule and administrative relief similar to that rule.
Showing posts with label employee benefit. Show all posts
Showing posts with label employee benefit. Show all posts
Thursday, October 31, 2013
Change to Cafeteria Plan
IRS Notice 2013 -71 now permits § 125 cafeteria plans to be amended to allow up to $500 of unused amounts remaining at the end of a plan year in a health FSA to be paid or reimbursed to plan participants for qualified medical expenses incurred during the following plan year, provided that the plan does not also incorporate the grace period rule. This carryover of up to $500 does not affect the maximum amount of salary reduction contributions that the participant is permitted to make under §125(i) of the Code ($2,500 adjusted for inflation after 2012). This carryover option provides an alternative to the current 2½ month grace period rule and administrative relief similar to that rule.
Wednesday, May 21, 2008
Employer provided cell phone
http://www.nacubo.org/x10109.xml
Congress has introduced bills (H.R. 5450 and S. 2668) to loosen the rules that tax personal use of employer provided cell phones and require detailed records to be kept on business usage. See link above.
Congress has introduced bills (H.R. 5450 and S. 2668) to loosen the rules that tax personal use of employer provided cell phones and require detailed records to be kept on business usage. See link above.
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