The Consolidated Appropriations Act provides tax relief for workers who socked away pre-tax money into flexible spending accounts (FSAs) for 2020 and couldn’t use it because of the coronavirus pandemic. Now employees may be able to carry over all of their unused funds to use later. Even ex-employees might get more time to spend down unused money instead of forfeiting it.
In a recent article in Forbes, McDermott partner Jacob Mattinson speaks to the employer perspective on FSA carryovers.
With the school year underway, employers in the United States face a new challenge: childcare-related leave and accommodation requests by employees. With widespread remote learning and evolving legal obligations to provide paid leave to working parents, employers must navigate unique staffing challenges while complying with the Families First Coronavirus Response Act (FFCRA) and other state and local leave laws. In our recent webinar, we outlined some of the current leave requirements regarding childcare obligations and practical solutions to navigate these uncharted waters.
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