Employee Benefits


The Treasury Department and IRS issued Notice 2005-42, which allows employers to modify flexible spending arrangements (FSAs) to extend the deadline for reimbursement of health and dependent care expenses up to 2.5 months after the end of the plan year ( www.treas.gov/press/releases/reports/n0542.pdf ). Previously, employees forfeited any FSA funds they did not use by the end of the year.

FEATURE

Tackling TCJA changes this tax season

Return preparers must be ready for how the Tax Cuts and Jobs Act has modified many common features of individual and business returns.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.