On March 26, 2021, the Internal Revenue Service (“IRS”) published Announcement 2021-7, which notifies taxpayers that certain amounts paid for personal protective equipment (such as masks, hand sanitizer, and sanitizing wipes)...more
On February 18, 2021, the IRS issued Notice 2021-15, which provides guidance with regard to a number of provisions of the temporary changes to the rules related to the operation of health and dependent care flexible spending...more
On December 27, 2020, the latest of several COVID-19 relief packages became law, as part of the Consolidated Appropriations Act, 2021 (the “New Law”). One of the most notable benefits-related provisions in the New Law...more
The Internal Revenue Service (“IRS”) recently issued Notice 2020-29 and Notice 2020-33 which allow employers to provide various new types of relief to employees participating in Section 125 cafeteria plans (including flexible...more
As mentioned in a prior Alert, beginning in 2013 employees’ salary reduction contributions to a health flexible spending account (health FSA) may not exceed $2,500 per plan year. This limit is to be indexed for inflation in...more
Recent guidance from the IRS modifies the long-standing “use or lose it” rule under a health flexible spending arrangement (“Health FSA”) to permit such arrangements to offer participants the opportunity to carryover up to...more
On September 13, 2013, the Internal Revenue Service, U.S. Department of Labor and U.S. Department of Health and Human Services, collectively, issued guidance (the "Health Funding Guidance") on the application of two of the...more