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11/7/97: The IRS today issued temporary regulations that clarify the
circumstances under which an employer may permit a cafeteria plan
participant to revoke an existing election and make a new election
during a period of coverage. The regulations are effective for plan years beginning after
December 31, 1998, but taxpayers may rely on the guidance in the
temporary regulations -- or on the existing proposed regulations -- for
prior periods.
The regulations:
Here's a button that will bring up the full text of the regulations, from today's Federal Register:
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