IRS Notice Addresses Taxation of Dependent Care Benefits
The IRS released Notice 2021-26, which addresses the taxation of dependent care benefits available during taxable years ending in 2021 or 2022.
IRS Guidance Affects Employment Taxes
The IRS issued Notice 2021-24, which provides guidance following the passage of the American Rescue Plan of 2021 (ARPA).
Additional COBRA Premium Assistance Guidance Under ARPA
The DOL has issued additional COBRA premium assistance guidance under the American Rescue Plan Act of 2021.
Deadlines for Tax Filing and Certain Contributions Confirmed
The IRS makes official the previously announced delay of the April 15, 2021 federal income tax filing due date for individuals for the 2020 tax year to May 17, 2021.
New Guidance on PPE as Medical Expense
The IRS has indicated that amounts paid for PPE that are primarily used to prevent the spread of COVID-19 are treated as amounts paid for medical care.
American Rescue Plan Act Provides Coronavirus Relief
President Biden has signed legislation that funds another round of assistance as the nation copes with the health and economic effects of the coronavirus pandemic.
Guidance Issued for Health Plans Regarding COVID-19 Services
The Departments of Labor, Health and Human Services, and Treasury have issued “FAQs About Families First Coronavirus Response Act and Coronavirus Aid, Relief, and Economic Security Act Implementation Part 44”.
IRS Details Additional Temporary Guidance for Cafeteria Plans
The IRS has issued Notice 2021-15, providing additional guidance and flexibility to employee benefit plans offering health FSA and dependent care arrangements.
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