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The IRS has announced that the contribution limits for Flexible Spending Accounts (FSA) contribution limits have been increased to $2750 for the plan year beginning 2020.

Posted by: Richard Huszai, CPA

Large Employer Penalties (50 or more FTE’s):

Effective September 23, 2012, businesses that provide health coverage to staff MUST provide a summary of the coverage to all employees. The Department of Labor shows what the summary must look like.