Tax Free Dependent Care Assistance Program Benefits: Fewer Traps for the Unwary
By EsqSocial Corporation 21/05/21
Why It Matters - On May 10, the Internal Revenue Service (IRS) issued Notice 2021-26, which states that unused employer-provided dependent care assistance program (DCAP) benefits from 2020 or 2021 that are used in the next year remain excludable from gross taxable income in the year used. This article follows up on our March 2021 article, “Increased Limit for Dependent Care Assistance Programs: Traps for the Unwary,” which described considerations regarding the American Rescue Plan Act of 2021...
By: Troutman Pepper