HIGHLIGHTS
The IRS issued guidance on the employer shared responsibility enforcement process.
The IRS plans to issue Letter 226J to propose and assess employer shared responsibility penalties.
No penalties have been assessed under the employer shared responsibility rules at this time.
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HIGHLIGHTS
Employees’ salary reduction contributions to health FSAs are subject to a maximum dollar limit.
The initial dollar limit was $2,500. For 2017, the dollar limit was increased to $2,600.
For the 2018 plan year, the health FSA dollar limit will be further increased to $2,650.
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HIGHLIGHTS
The IRS recently announced cost-of-living adjustments to the annual dollar limits for employee benefit plans.
Many of these limits will increase for 2018.
In 2018, employees may contribute more money to their HSAs, health FSAs and 401(k) accounts.
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