One of the changes included in the American Rescue Plan Act of 2021 (the “Act”) is a temporary increase to the annual limit on pre-tax contributions to a dependent care flexible spending account (“DCFSA”) that can be excluded from income. For single taxpayers and married couples filing jointly, the limit increases to $10,500 (from $5,000) and for married individuals filing separately, the limit increases to $5,250 (from $2,500). This change is effective for plan years beginning after December 31, 2020 and before January 1, 2022.
Employers who intend to amend their DCFSAs to ...
Blog Editors
Recent Updates
- EEOC Final Rule Implementing the Pregnant Workers Fairness Act
- Podcast: Navigating Physician Non-Compete Litigation – Employment Law This Week
- Maryland Expected to Expand Pay Transparency Requirements in Fall 2024
- Video: Union Reps at OSHA Inspections, New COVID-19 Guidance, and Minimum Wage Updates - Employment Law This Week
- Fair Credit Reporting Act Preempts State Law Defamation Claim Over Background Check