On June 8, 2020, the IRS published Notice 2020-44, which provides the adjusted PCORI fee amount for plan years ending on or after Oct. 1, 2019, and before Oct. 1, 2020. It also provides transition relief for calculating the average number of lives covered under the plan for this period.
The IRS has released an updated version of its W-4 form, also known as the “Employee’s Withholding Certificate” form. The new form includes instructions on how to complete it. Learn more with this video.
This Compliance Overview includes a chart that summarizes key HSA features for 2020, including employee eligibility rules, annual contribution limits, distribution rules and potential tax benefits.
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