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IRS Announces 2022 Limits for Health FSAs and Transit Benefits | CA Employee Benefits Advisors

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The Internal Revenue Service (IRS) announced annual inflation adjustments for more than 50 tax provisions, including an increase in voluntary employee contributions to employer-sponsored healthcare flexible spending arrangements (HFSAs) to $2,850 for plan years beginning in 2022, up from the 2021 limit of $2,750. For HFSAs that include a carryover provision, up to $570 may … Continued

IRS Announces 2022 Retirement Plan Contribution Limits | San Diego Employee Benefits Team

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On November 4, 2021, the Internal Revenue Service (IRS) released Notice 2021-61 announcing cost-of-living adjustments affecting dollar limits for pension plans and other retirement-related items for tax year 2022. Many pension plan limits will change next year because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. Other items, however, will not … Continued

IRS EXTENDS HSA CONTRIBUTION DEADLINE

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IRS Extends HSA Contribution Deadline The Internal Revenue Service published a series of questions and answers relating to the delay of the tax filing deadline from April 15, 2020 to July 15, 2020 as provided in IRS Notice 2020-18.   With regard to contributions to an HSA, the IRS stated the following:   “Contributions may be made … Continued

IRS Announces HSA Limits for 2020 | CA Benefits Advisors

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On May 28, 2019, the Internal Revenue Service (IRS) released Revenue Procedure 2019-25 announcing the annual inflation-adjusted limits for health savings accounts (HSAs) for calendar year 2020. An HSA is a tax-exempt savings account that employees can use to pay for qualified health expenses. To be eligible for an HSA, an employee: Must be covered … Continued

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