Tag: FSA

Given the low inflation environment over the last year, the 2015 IRS Tax Brackets, standard deductions and personal exemptions have only seen a moderate increase over 2014 levels. Federal income tax brackets and related tax items, under the tax code, provide for mandatory annual adjustments based on inflation. This is to prevent…

See this article for the latest IRS updates to federal tax brackets and standard deductions. ____________ Below are the 2014 IRS federal tax brackets based on annual inflation adjustments. Given the low inflation environment there were only moderate increases in tax brackets, standard deductions and to the personal exemption. The main changes…

Flexible Spending Accounts (FSA) have been around for a while now and many families use them as a tax advantaged way to save for health care and dependent care related costs. However every year various limits associated with FSA accounts are reviewed by the IRS and adjusted based on statue or for…