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IRS Announces 2015 Contribution Limits

November 4th, 2014

Health Flexible Spending Accounts
The maximum employee salary reduction contribution  will be increased to $2,550 from the 2014 level of $2,500.
The increase applies to both full-purpose and limited-purpose health flexible spending accounts.
Dependent Care  Spending Accounts
Remains unchanged as follows:  $5,000 if the employee is married and filing a joint return or if the employee is a single parent ($2,500 if the employee is married but filing separately);

Qualified Transportation/Parking Benefits
There is no increase from the 2014 limit ($130).

There is no increase from the 2014 limit  ($250).

Adoption Assistance Programs
The maximum amount that can be excluded from an employee’s gross income for the amounts paid or expenses incurred by an employer for qualified adoption expenses furnished pursuant to an adoption assistance program for other adoptions by the employee in 2015 is $13,400. This is an increase of $210 over the 2014 maximum.

  2015 Contribution Limits

For a copy of Revenue Procedure 2014-61 please click on the link provided below.