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Loan & Distribution Specialist AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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House of Representatives Releases Tax Reform Proposal: The Tax Cuts and Job Act
Employers Council on Flexible Compensation [ECFC] Nov. 3, 2017
"The tax reform proposal does not provide any relief from ... the tax on high cost health plans (the 'Cadillac tax'), the cap on employee contributions to health FSAs, the requirement that drugs be prescribed to be reimbursed from an FSA, HRA or HSA and the increase in the penalty tax for disqualified distributions from an HSA.... Employers will no longer be able to deduct expenses for qualified transportation fringe benefits paid or incurred after December 31, 2017 ... However, the proposal does not change the non-taxable nature of these qualified transportation fringe benefits. This means that employers will not be able to deduct any pre-tax transit and parking amounts, but they will remain tax advantaged for individual employees."
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