2011 – 2012 IRS Project Plan

Oct 3

Written by:
10/3/2011 8:26 AM  RssIcon

The IRS released their project plan for 2011-2012.  The plan includes items that the IRS and Treasury would like to address.  Here are some of the items in the plan that impact employee benefits:

  • Finalize the 2007 proposed cafeteria plan regulations under §125;

  •  Guidance on the $2,500 annual limit on salary reduction contributions to cafeteria plan health flexible spending arrangements under §125(i);

  • Guidance under §132(f) on the use of smart cards, debit cards and credit cards in providing qualified transportation fringe benefits;

  • Address comparable contributions rules for HSAs, especially those relating to the cafeteria plan exception;

  • Regulations on the Medicare Tax for 2013.

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