IRS Issues Additional COVID-19 Relief
On May 28, the IRS issued Notice 2020-35, offering more administrative relief on deadlines applicable to employee benefits, employment taxes and exempt establishments impacted by COVID-19. Per Code Section 7508A, the Internal Revenue Service is…
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IRS Publishes 2021 Amounts for HSA Limits
The Internal Revenue Service just announced next year’s inflation-adjusted quantities of health saving accounts. In Rev. Proc. 2020-32, the IRS states that the annual limitation on deductions under Code Section 223(b)(2)(A) for a person with…
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