Internal Revenue Service (IRS) regulations as of May 2006, which update and clarify expenses that employees can pay for through dependent care flexible spending accounts (FSA). The regulations ...
The plan allows for reimbursement of dependent care based on estimates prior to incurring the care with no requirement for substantiation after the expenses are incurred. This is not compliant because it reimburses claims that have not been incurred or substantiated. In Situations 2-6 above, the ...
The health care legislation also requires group health plans and health insurers that provide dependent care coverage to continue to make such coverage available for an adult child until age 26. This requirement is not exactly parallel to the amendments to the Code. For example, it applies to ch...
The article reports on a guidance on using debit cards with flexible spending accounts and health reimbursement arrangements which was launched by the U.S. Internal Revenue Service (IRS). It clears up questions that have arisen since the IRS first issued rules for the cards. The agency has iss...
Internal Revenue Service has released the proposed rules clarifying and replacing existing reimbursement rules for dependent care expenses applicable to Dependent Care Assistance Programs. The rules also provides restatement for qualified dependent care costs. Furthermore, the proposed rules include that of ...