Public Announcements
2020 IRS LIMIT ANNOUNCEMENTS:
SOCIAL SECURITY LIMIT: $137,700
401K MAXIMUM: $19,500 - Total Comp = $285,000
401K CATCH-UP: $6,500 for a total of $26,000
BUSINESS MILEAGE: 57.5 cents
MOVING/MEDICAL: 17 cents
CHARITABLE: 14 cents
HEALTH SAVINGS ACCOUNT: $3,550 FOR INDIVIDUAL AND $7,100 FOR FAMILY
HEALTH SAVINGS ACCOUNT CATCH-UP: $1,000
HEALTH CARE FLEXIBLE SPENDING ACCOUNT LIMIT: $2,750
DEPENDENT CARE FLEXIBLE SPENDING ACCOUNT LIMIT:$5,000 FOR MARRIED JOINT RETURNS AND $2,500 FOR MARRIED FILING SEPARATE RETURNS
TRANSIT PASSES: $270 PER MONTH
TRANSIT PARKING: $270 PER MONTH
ADOPTION ASSISTANCE: $14,300
