This article was published by the IRS. The Internal Revenue Service reminds taxpayers that during open enrollment season for flexible spending arrangements (FSAs) they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans. An employee who chooses to participate in an FSA can contribute up to $3,300 through [...]
This article was published by the IRS.Amid concerns about people being misled, the Internal Revenue Service is reminding taxpayers and health spending plan administrators that personal expenses for general health and wellness are not considered medical expenses under the tax law. This means personal expenses are not deductible or reimbursable under health flexible spending arrangements, health [...]
This article was published by the IRS. During open enrollment season for Flexible Spending Arrangements (FSAs), the Internal Revenue Service reminds taxpayers that they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans through their FSA. For 2024, there is a $150 increase to the contribution limit for [...]
This video tutorial will show you how to opt in and choose to participate in the Paid Family and Medical Leave program, and make contributions as a self-employed individual in MassTax Connect. Please note that you must first submit the self-employed notice of election found on the Paid Family and Medical Leave coverage for self-employed individuals [...]
This article was published by the IRS. This is the first of two tax tips providing an overview of how the American Rescue Plan may affect some individual's 2021 taxes. Child and dependent care credit increased for 2021 only The new law increases the amount of the credit and the percentage of employment-related expenses for qualifying [...]
