Search the Community
Showing results for tags 'fsa health'.
Found 2 results
-
Hey, everyone - First time caller! I have a client with a Standard Health FSA. It operates on a calendar year basis. However, the employer's payroll processes two weeks in arrears. Tax question as to whether the employer can deduct the final payroll from 2020 when the final payroll for 2020 is actually not paid out until the first payroll period in 2021. In other words, the work performed between December 15 and December 31 is paid on the January 15 payroll. That first payroll for 2021 is included as income for the 2021 W-2s - not 2020. Has anyone dealt with this? The plan language is vague as to "compensation". Trying to determine whether there are different deductibility rules for cash basis versus accrual basis accounting. Thanks!
-
Does any IRS guidance prescribe the latest date by which an employee must submit claims for reimbursement of claims for reimbursement under a health care FSA? For 2015, for example, can the plan allow as long as to December 31, 2016 for claims submissions?
