2024 FSA H S A and HRA limits

2024 Health FSA Inflation Adjustments Released Catherine Sbarra / Sr. Advisor / Phone: 847-668-9684 On November 9, 2023, the Internal Revenue Service issued Revenue Procedure 2023-34 that establishes various 2024 tax-related limits that have been adjusted for inflation. The table below identifies updates to the 2024 health and fringe benefit plans addressed in this notice. […]

IRS extends additional tax deadlines for individuals to May 17

IRS extends additional tax deadlines for individuals to May 17 WASHINGTON — The Internal Revenue Service today announced that individuals have until May 17, 2021 to meet certain deadlines that would normally fall on April 15, such as making IRA contributions and filing certain claims for refund. This follows a previous announcement from the IRS […]

More Relief Available for Small Businesses

More Relief Available for Small Businesses A new federal law increases the lending authority of the Paycheck Protection Program (PPP) by $7.25 billion. The PPP was designed to help small businesses keep workers on the payroll during the COVID-19 pandemic. The provision increasing its lending authority was included in the $1.9 trillion American Rescue Plan […]

When is the filing deadline for forms 1094-C and 1095-C?

When is the filing deadline for forms 1094-C and 1095-C? For the 2020 filing year, Applicable Large Employers (ALEs) must provide Forms 1095-C to employees by March 2, 2021. ALEs must submit Forms 1095-C, along with Form 1094-C, to the IRS by February 28, 2021 (if filed by mail) or March 31, 2021 (if filed […]