With summer camps canceled, IRS relaxes rules on flexible spending accounts

Source: Michelle Singletary, Washington Post (Paid Registration)

During your employer’s “open enrollment” period last year, you may have elected to have money taken from your paycheck, pretax, to pay for dependent care or certain medical expenses not covered by your health plan.

Now the pandemic has put a lot of your spending on hold. As a result, the IRS recently relaxed rules for employer “cafeteria” plans, employee benefit packages that include flexible spending accounts (FSAs) for dependent-care and health-care expenses.

Read Full Article: With summer camps canceled, IRS relaxes rules on flexible spending accounts

 

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