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IRS Releases New Fringe Benefit Tax Guide for Employers

Posted on March 9, 2018 05:42 PM

The Internal Revenue Service (IRS) has released the 2018 Publication 15-B,Employer's Tax Guide to Fringe Benefits, which contains information for employers on the employment tax treatment of fringe benefits

Categories: Employee Benefits, Fringe Benefits, HSAs, FSAs and Other Tax-Favored Accounts

IRS Releases Publication 969 for Preparing 2017 Tax Returns

Posted on March 8, 2018 06:16 PM

The Internal Revenue Service (IRS) has released a new Publication 969 (Health Savings Accounts and Other Tax-Favored Health Plans), which contains information for use in preparing 2017 tax returns.

Categories: Cafeteria Plans, Employee Benefits, HSAs, FSAs and Other Tax-Favored Accounts, Reporting and Recordkeeping

IRS Decreases 2018 HSA Contribution Limit for Certain Individuals

Posted on March 6, 2018 05:30 PM

The Internal Revenue Service (IRS) has announced that 2018 annual limitation on HSA contributions by individuals with family coverage under a high deductible health plan (HDHP) is now $6,850.

Categories: Cafeteria Plans, Employee Benefits, HSAs, FSAs and Other Tax-Favored Accounts

IRS Releases New Guidance on QSEHRAs

Posted on November 2, 2017 07:06 PM

The Internal Revenue Service (IRS) has released guidance further clarifying the rules regulating qualified small employer health reimbursement arrangements (QSEHRAs). Highlights of the guidance are described in this update.

Categories: Employee Benefits, HSAs, FSAs and Other Tax-Favored Accounts, Reporting and Recordkeeping

IRS Releases 2018 Inflation Adjustments for Various Tax Benefits

Posted on October 19, 2017 06:28 PM

The Internal Revenue Service (IRS) has announced a number of inflation-adjusted tax items for 2018, some of which remain unchanged. Among other items, the annual dollar limit on employee contributions to employer-sponsored health flexible spending arrangements (FSAs) increases to $2,650 (up from $2,600).

Categories: Cafeteria Plans, Employee Benefits, Fringe Benefits, HSAs, FSAs and Other Tax-Favored Accounts

IRS: Health FSAs Cannot be Used for Insurance Premiums

Posted on August 11, 2017 02:33 PM

A recently released IRS letter reaffirms the agency's view that funds from a health flexible spending arrangement (health FSA) may not be used to reimburse health insurance premium payments or Medicare premium expenses.

Categories: Health Insurance, HSAs, FSAs and Other Tax-Favored Accounts

IRS Releases 2018 Health Savings Account Limits

Posted on May 5, 2017 04:05 PM

The Internal Revenue Service (IRS) has announced the 2018 inflation-adjusted amounts for Health Savings Accounts (HSAs) as determined under the Internal Revenue Code.

Categories: Employee Benefits, HSAs, FSAs and Other Tax-Favored Accounts

KY: Funds Deposited in Health Savings Accounts Are Exempt from Wage Attachments or Garnishments

Posted on April 18, 2017 04:46 PM

A new law in Kentucky exempts funds deposited in a health savings account from execution, attachment, or garnishment.

Categories: HSAs, FSAs and Other Tax-Favored Accounts, State Employment Laws

IRS Extends Period for Qualified Small Employers to Furnish Initial Written HRA Notice

Posted on February 28, 2017 03:59 PM

The Internal Revenue Service (IRS) has extended the period for an employer to furnish an initial written notice to its eligible employees regarding a qualified small employer health reimbursement arrangement (QSEHRA) and has delayed associated penalties until further guidance is issued.

Categories: Employee Benefits, HSAs, FSAs and Other Tax-Favored Accounts

IRS Releases Publication 969 for Preparing 2016 Tax Returns

Posted on February 16, 2017 04:57 PM

The Internal Revenue Service (IRS) has released a new Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans, which contains information for use in preparing 2016 tax returns.

Categories: HSAs, FSAs and Other Tax-Favored Accounts