IRS Updates FSA Contribution Limits and Carryovers for 2025
CPA Practice
NOVEMBER 10, 2024
As healthcare enrollment and renewal season continues, the Internal Revenue Service is reminding taxpayers that if they use flexible spending accounts (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 payroll deductions during the 2025 plan year.
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