Employee Benefits


The Treasury Department and the IRS released Notice 2005-86, which clarifies that an individual participating in a flexible spending arrangement (FSA) is ineligible to contribute to a health savings account (HSA) during an FSA grace period, which extends the covered expense eligibility time frame up to 2 months into the following plan year ( www.treas.gov/press/releases/js3022.htm ). The notice also provides guidance on how employers can amend an FSA to eliminate the restriction on HSA contributions.

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How the election may affect taxation of business income

This report summarizes recent proposals to reform the U.S. business income tax system and considers the path to enactment of any such legislation.

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How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

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Did you follow 2016’s biggest accounting news?

CPAs will remember 2016 as a year of new standards and new faces. How well did you follow the biggest accounting events? The 7 questions in this quiz will help you find out