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FSA Contribution Limits Set

Tuesday, Dec 12 2023
Tax
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The Internal Revenue Services has announced a $150-increase in contribute limits for Flexible Spending Arrangements next year. That will bring the total that can be contributed via payroll deductions to a maximum of $3,200.

If allowed by plans, employers can contribute to employee FSAs. Spouses with employers offering a plan can also contribute up to $3,200 to their plans so that married couples can jointly contribute up to $6,400.

For plans permitting carryovers of unused amounts, the maximum carryover from 2024 to 2025 is $640. A maximum of $610 can be carried over from 2023 through 2024.

Bob Scott
Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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