IRS Releases Many Benefit Limits for 2027

November 6, 2026 Yesterday, the Internal Revenue Service announced in Revenue Procedure 2026-35 the annual inflation adjustments for more than 60 tax provisions for 2027, including the tax rate schedules, and other tax changes. This Revenue Procedure provides details about these annual adjustments: There are several benefit limitations for 2027 included: -The annual dollar limit on employee contributions to employer-sponsored healthcare flexible spending arrangements (FSA) is increased to $3,500. -If the cafeteria plan permits the carryover of unused amounts, the maximum carryover amount is increased to $700. -The amount for the adoption credit or the amount excluded for adoption assistance… Read More