@Opus 17
Does the following mean the 2020 FSA can roll over with 2021 and reimburse up to $10500 expense?
“On March 11, 2021, The American Rescue Plan Act of 2021 (ARPA) was signed into law by President Biden. ARPA allows employers to increase the annual limit on contributions to dependent care FSAs up to $10,500 for the 2021 plan year only"
And currently the 2022 Dependent Care FSA limit remains $5000 which explains why I can't take advantage of $10000 FSA for 2022 expense?
I'll watch for any policy change before the deadline of my 2021 expense reimbursement.
And at last, if I end up with claiming $16000 child care tax credit and request all the $10000 FSA to 2022 expense, are you sure the worst situation is just pushing $5000 to taxable income, rather than losing that $5000?
Thanks for all you information.
