HSA

The Department of Labor has issued a compliance assistance release clarifying that cybersecurity guidance issued in April 2021 applies to all types of ERISA plans, including health and welfare plans and all employee pension benefit plans. The guidance package includes tips for hiring a service provider, cybersecurity program best practices, and online security tips.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, straight-line winds, tornadoes, landslides, and mudslides in Kentucky.

The IRS has announced the postponement of certain tax-related deadlines for victims of hurricane Beryl in Texas. The tax relief postpones various tax filing deadlines that began on July 5, 2024.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 30, 2024, for Arkansas severe storms, straight-line winds, tornadoes, and flooding, for the incident period of May 24 – 27, 2024.

The Department of Labor (DOL) recently released a regulatory package that includes a final amendment (the Retirement Security Rule) to the regulations that define what constitutes an investment advice fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) Title I and Title II (codified in the Internal Revenue Code).

The IRS has announced the postponement of certain tax-related deadlines for victims of Iowa severe storms and tornadoes.

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on May 17, 2024, for Texas severe storms, straight-line winds, tornadoes, and flooding, for the incident period of April 26, 2024, and continuing.

The IRS has announced the postponement of certain tax-related deadlines for victims of Maine severe storms and flooding.

The IRS has released an alert reminding taxpayers that personal expenses for general health and wellness are not considered medical expenses for flexible spending account (FSA) and health savings account (HSA) purposes, and that reimbursement of non-medical expenses results in the arrangement no longer being qualified and all disbursements being includible in income.

The IRS has announced the postponement of certain tax-related deadlines for victims of severe storms, tornadoes and flooding in Michigan.