Regulatory and Legislative

Proposal Would Expand Medical Expense Coverage for Caregivers

Representatives Vern Buchanan (R-FL) and Mike Thompson (D-CA) have introduced H.R. 7222, the Lowering Costs for Caregivers Act. The bill would allow caregivers to cover medical expenses for their parents or spouse from their health savings account (HSA), health flexible spending arrangement (FSA), health reimbursement arrangement (HRA), or medical savings account (MSA) — regardless of whether they were a dependent for tax purposes.

Legislative updates HSA

Regulatory and Legislative

DOL Issues Final Amendments to VFCP

The Department of Labor has released a final amendment updating the Voluntary Fiduciary Correction Program.

Regulatory and Legislative

DOL ESOP Proposed Rule Has Left OMB

The Office of Management and Budget has completed review of a proposed rule from the Department of Labor titled "Worker Ownership, Readiness, and Knowledge”.

Regulatory and Legislative

IRS Announces Deadline Relief for California Wildfires

The IRS has announced the postponement of certain tax-related deadlines for victims of California affected by wildfires and straight-line winds until October 15, 2025.