New Law Allows Pre-Tax Expense Account Balances to Carryover to 2021
Pre-tax expense accounts typically have use-or-lose provisions, but a law passed in December offers good news. If you had a balance remaining in your 2020 Medical/Dental Expense Account (MDEA) or Dependent Care Expense Account (DCEA), they will automatically carryover to this year’s expense account. Here are a few exceptions and things to note: – No limit to MDEA carryover. The […]