Flexible Spending Accounts
Are there any filing requirements at the end of the year when I file for my income taxes?
When you receive your W-2, dependent care benefits will be listed in Box 10. This information should be used in completing IRS Form 2241 (the same form completed when taking the Child and Dependent tax credit) which is filed with your personal income taxes. There is no filing requirement for your Medical Care FSA, however, you can not take a credit on those medical expenses reimbursed through your Medical Care FSA.
View additional questions:
- What is a Flexible Spending Account (FSA)?
- How much can I contribute to each account?
- What expenses are reimbursable under each of the plan?
- How do I enroll in a Medical Care or Dependent Care FSA?
- Do I have to participate in my employer's medical insurance plan to enroll in the Medical Care FSA?
- What's better for me, the Dependent Care FSA or the Federal Dependent Care Tax Credit?
- Can I change my Medical Care or Dependent Care election at any time?
- When can I submit a claim for reimbursement?
- How do I submit a claim for reimbursement of my expenses?
- What happens if I terminate employment during the year?
- What happens if my expenses are lower than anticipated?
- Are there any filing requirements at the end of the year when I file for my income taxes?