If you have money left in your flexible spending plan at work when you quit that money is forfeited. Does it go to the employer, the plan provider or to the IRS?
2006-12-13 09:24:27 · 2 answers · asked by mwilsonivanhoe 1 in Business & Finance ➔ Taxes ➔ United States
YOU get that money. Lets say you put in 2000.00 a year as of Jan 1st if you leave on Jan 3rd you still are entitled to the money. Keep turning in your receipts.--it comes out of your company's pockets.
2006-12-13 09:32:34 · answer #1 · answered by boohoo 4 · 1⤊ 1⤋
I believe it goes back to the employer.
On the other hand, let's say you sign up for an annual deduction of $1,000, taken monthly. If you have eligible expenses, you can spend all of this money on January 1st (before actually depositing the money into the plan) and then quit on January 2nd.
See, there are risks both ways.
2006-12-13 09:32:56 · answer #2 · answered by Adoptive Father 6 · 1⤊ 0⤋