IRS Issues Additional Dependent Care FSA Guidance
By EsqSocial Corporation 25/05/21
Following up on guidance issued in February the IRS has issued a new notice on the temporary carryover rules for dependent care flexible spending accounts. The 2021 Consolidated Appropriations Act (CAA) provides that, for plan years ending in 2020 and 2021, participants in a dependent care plan may carry over unused amounts into the next plan year. These carryover amounts do not count against the applicable annual limit on tax-favored dependent care assistance....
By: Ballard Spahr LLP