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- Title
Flexible Spending Plan Regs Amended.
- Authors
Scafidi, Catina M.; Curatola, Anthony P.
- Abstract
The article discusses the economic benefits associated with flexible spending accounts (FSA). Taxpayers can recapture their own pretaxed income by incurring medical expenses paid from remaining amounts in their FSA. Traditionally any unspent monies in an FSA reverted back to a taxpayer's employer. In 2005 the U.S. Treasury announced an amendment which permits certain plans, including the FSA, to adopt a grace period beyond year-end that allows taxpayers to use the contributions from the preceding plan year.
- Subjects
UNITED States; CAFETERIA benefit plans; TAXATION of employee benefits; TAXATION; WAGE taxation; UNITED States. Dept. of the Treasury; INCOME tax; DEFERRED compensation; SALARY reduction plans; TAXATION economics
- Publication
Strategic Finance, 2005, Vol 87, Issue 3, p15
- ISSN
1524-833X
- Publication type
Article