Changes to FSA's

With day cares and summer camps canceled, the IRS is issuing new guidance for employees that use a workplace plan to help pay for these programs. Normally, mid-year changes to these FSA's are not allowed.

I-R-S IS ISSUING NEW GUIDANCEFOR EMPLOYEES THAT USE AWORKPLACE PLAN TO HELP PAY FORTHOSE PROGRAMS.DEPENDENT CARE FLEXIBLESPENDING ACCOUNTS -- OR F-S-A'S-- ALLOW SOME EMPLOYEES TOUSE AS MUCH AS 5-THOUSANDDOLLARS OF PRE-TAX INCOME TOPAY FOR PROGRAMS FOR THEIRKIDS.NORMALLY -- MID-YEAR CHANGES TOTHESE F-S-A'S ARE NOT ALLOWED.BUT NOW -- YOU MAY BE ABLE TOLOWER OR STOP CONTRIBUTIONSALTOGETHER.UNUSED FUNDS ARE TYPICALLYFORFEITED.TIME NOW IS X:XX -- COMING UPON GOOD MORNING LAS VEGAS...