IRS Issues Reminder that Claims Under Health and Dependent Care FSAs Must Be Substantiated
McDermott Will & Emery Employee Benefits
JUNE 1, 2023
The Internal Revenue Service (IRS) recently issued a Chief Counsel Advice memorandum to remind sponsors of health and dependent care flexible spending arrangements (FSAs) about their responsibility to adequately substantiate claims in order to receive favorable tax treatment under Section 125 of the Internal Revenue Code (the Code).
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