IRS – JRW Associates

IRS Announces 2022 Retirement Plan Contribution Limits | JRW Associates, Inc., a Raleigh Benefit Advisory

December 21, 2021

On November 4, 2021, the Internal Revenue Service (IRS) released Notice 2021-61 announcing cost-of-living adjustments affecting dollar limits for pension plans and other retirement-related items for tax year 2022. Many pension plan limits will change next year because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. Other items, however, will not … Continued

IRS Announces 2022 Limits for Health FSAs and Transit Benefits | JRW Associates, Inc., a Raleigh Benefit Advisory

December 15, 2021

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The Internal Revenue Service (IRS) announced annual inflation adjustments for more than 50 tax provisions, including an increase in voluntary employee contributions to employer-sponsored healthcare flexible spending arrangements (HFSAs) to $2,850 for plan years beginning in 2022, up from the 2021 limit of $2,750. For HFSAs that include a carryover provision, up to $570 may … Continued

IRS Announces HSA Limits for 2020 | JRW Associates, Inc., a Raleigh Benefit Advisory Firm

June 4, 2019

By JRW

On May 28, 2019, the Internal Revenue Service (IRS) released Revenue Procedure 2019-25 announcing the annual inflation-adjusted limits for health savings accounts (HSAs) for calendar year 2020. An HSA is a tax-exempt savings account that employees can use to pay for qualified health expenses. To be eligible for an HSA, an employee: Must be covered … Continued

PCORI Fee Increase for Health Plans | JRW Associates, Inc., a Raleigh Benefit Advisory Firm

November 7, 2018

By JRW

On November 5, 2018, the Internal Revenue Service (IRS) released Notice 2018-85 to announce that the health plan Patient-Centered Outcomes Research Institute (PCORI) fee for plan years ending between October 1, 2018 and September 30, 2019 will be $2.45 per plan participant. This is an increase from the prior year’s fee of $2.39 due to … Continued

Easy-to-Use Tax Withholding Calculator | JRW Associates, Inc., a Raleigh Benefit Advisory Firm

October 13, 2018

By JRW

Employers, have you reminded your employees to check that they are having the right amount of tax withheld from their paychecks? It’s a good idea for everyone to check their payroll withholding every year, but it is particularly important this year due to the big changes Congress made to the federal tax rules for 2018. … Continued

DOL and IRS Release Additional Information on Association Health Plans | JRW Associates, Inc., a Raleigh Benefit Advisory Firm

September 26, 2018

By JRW

Category: IRS