IRS Clarifies Taxation for Dependent Care Programs for 2021 and 2022
By EsqSocial Corporation 22/06/21
The IRS recently issued Notice 2021-26, which provides guidance related to certain pandemic relief provisions including carry-overs and extended grace periods which impact dependent care assistance programs (DCAPs) provided under a Code Section 125 cafeteria plan in tax years ending in 2021 and 2022. Due to the pandemic, individuals with DCAPs found themselves incapable of…...
By: Laner Muchin, Ltd.