The IRS announced new inflation-adjusted amounts under the Tax Cuts and Job Act of 2017, which modified the contribution amounts to the below plans. These changes are retroactive to January 1, 2018. Adoption Assistance Flexible Spending Account The maximum amount that may be excluded from an employee's gross income under an employer-provided adoption assistance program… Continue reading New Inflation-Adjusted Amounts Announced
Tag: HSA
New HSA Limits Announced for 2018; Possible Changes Proposed
Last week the IRS released the inflation-adjusted limits for Health Savings Accounts (HSAs) in 2018. The increases for the 2018 are as follows: Annual Contribution Single: $2,450 Family: $6,900 HSA Minimum Deductible Single: $1,350 Family: $2,700 HSA Maximum Out-of-Pocket Expenses Single: $6,650 Family: $13,300 Looking Ahead If the ACA replacement bill gets passed in the… Continue reading New HSA Limits Announced for 2018; Possible Changes Proposed