IRS Notice 21-16: Clarifications on DC FSA limit increases
Updated: May 4
The the IRS's recent notice 21-16, some greatly needed clarifications were provided on the recent increase to dependent care FSA limits for the 2021 tax year.
It begged the question: what if my plan year doesn't correspond with the tax year?
This, and several other questions were answered in this helpful notice - watch for more info!