The IRS Released Revenue Procedure 2021-45 just now announcing the limits for 2022. Most limits for tax-advantaged accounts did increase for the upcoming year. The HSA Limits and HDHP Limits were announced earlier this year in Revenue Procedure 2021-25. The new limits...
Recently, the IRS published clarification regarding timeframes under specific Emergency Relief Notices to COBRA elections and premiums payments during the Pandemic. A transition rule provides that in no event will an initial COBRA premium payment be due before...
The IRS announced the new limits for Health Savings Accounts (HSAs) are going up $50 for individual coverage and $100 for family coverage, bringing them to $3,650 and $7,300, respectively. The catch-up contribution limit for those over age 55 will remain $1,000. Each...
On March 11, 2021, the American Rescue Plan Act of 2021 (ARPA) was signed by President Biden. ARPA is a $1.9 trillion economic stimulus package proposed by Biden to speed up the United States’ recovery from the economic and health effects of the COVID-19...
Sunday December 27th, 2020 President Trump signed the Consolidated Appropriations Act, 2021 (CAA) into law. The CAA includes $900 billion of COVID relief measures. Highlighted below are sections of the bill that affect health and welfare plans – as well as next...
The IRS Released Revenue Procedure 2020-45 late last night announcing the limits for 2021. Most limits for tax-advantaged accounts remained the same for the upcoming year. The HSA Limits and HDHP Limits were announced earlier this year in Revenue Procedure 2020-32....
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