Thứ Tư, 3 tháng 1, 2024

Why does Flexible Savings Account have "Lose All Money" Expiration Policy?

What is the government motivation behind, having workers lose money in Flexible Savings Account, if they don't use it at end of year? I could understand giving it back, or adding another 10% tax. But totally losing the money 100%? That doesn't sound very nice from both congress people, who just take money from poor, hardworking citizens.

Any thoughts behind this motivation?

"The catch: If you enroll, IRS rules require you to spend the money you contribute into your account by an annual deadline. In other words, if you don’t use it, you lose it: the money is forfeited."

Article: Workers lose $3 Billion

https://money.com/fsa-contributions-workers-forfeit-money/



https://ift.tt/zjpSDGg Submitted January 03, 2024 at 05:54AM by Test_Book1086 https://ift.tt/3bOGJ0T

0 nhận xét:

Đăng nhận xét