Really concerned about losing $2-3k Dependent FSA. Need suggestions

[Anonymous]

OP. DH asked HR and they said there is absolutely nothing from IRS so no he is SOL.

[Anonymous]

OP again. Grandparents don’t live in town and refused to do it for the weeks they may visit. My dad still consults part time and out of state as well. No other family who would help out with that. Definitely can’t afford to lose this much

[Anonymous]

Tax person here. If you have an email from a camp where they cancel, that is a QLE. Your company has to let you stop your FSA deductions. I did this online with my HR dept and then submitted a copy of the email. Deductions stopped immediately. I only wish as a tax person I had thought to do this sooner 😀

House Dems put in their last plan a couple weeks ago had language that would roll your 2020 Dependent care FSA money over for the 2021 year (allowing you to put in less money next year). Obviously that bill isn’t going anywhere. BUT it’s on the radar and that is good. Millions of people use these accounts. If we all lost our money because of a pandemic and partisan politics that would be huge. Congress will not let that happen. It’s the equivalent of a pay cut at the hands of the government. Call your senator, call Republicans and make sure they know it’s critical to you.

[Anonymous]

You can stop your contributions now as let of either the FFRCA or the CARES act. We did it. Call your HR dept.

[Anonymous]

Anonymous wrote:We were able to go onto the website and reduce our contributions due to a life event (childcare costs being reduced).

We did this too but we don’t need childcare during the school year because we stagger schedules so camp would have been our only use of the funds, some of which were already in there. I really hope we can carry over.

[Anonymous]

You can change your election. You had a change in child care it’s a qualified event. I did, it took 5 minutes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We were able to go onto the website and reduce our contributions due to a life event (childcare costs being reduced).

We did this too but we don’t need childcare during the school year because we stagger schedules so camp would have been our only use of the funds, some of which were already in there. I really hope we can carry over.

You should be able to carry over $500

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We were able to go onto the website and reduce our contributions due to a life event (childcare costs being reduced).

We did this too but we don’t need childcare during the school year because we stagger schedules so camp would have been our only use of the funds, some of which were already in there. I really hope we can carry over.

You should be able to carry over $500

The normal rules depend on your FSA. Some allow some carryover. I believe the federal DCFSA allows you to incur expenses through March 15th but not carryover. That may or may not be helpful to people.

I still expect there to be a universal change allowing more flexibility this year (and not just the qle thing).

[Anonymous]

Anonymous wrote:Write a check to grandparents for two weeks of childcare $1,800 (below taxable amount)

Have them give you cash back

Fraud. Tax implications for grandparents.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Look up the CARES Act. I think they're allowing you to get your contribution back. Ask your HR department.

Correct - DCFSA can be adjusted due to CARES. Call FSA M-F between 9am-9pm. Good luck!

To be clear- you can change your adjustment but once FSA has your money, you cannot just ask for it back. Don’t spread lies!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We were able to go onto the website and reduce our contributions due to a life event (childcare costs being reduced).

We did this too but we don’t need childcare during the school year because we stagger schedules so camp would have been our only use of the funds, some of which were already in there. I really hope we can carry over.

You should be able to carry over $500

The normal rules depend on your FSA. Some allow some carryover. I believe the federal DCFSA allows you to incur expenses through March 15th but not carryover. That may or may not be helpful to people.

I still expect there to be a universal change allowing more flexibility this year (and not just the qle thing).

I also assume there will be some reprieve, especially because older kids have large summer camp expenses and less aftercare costs that could be recouped later in the year or early next year. And although the feds were pretty quick to allow election changes, most other employers took much longer and it looks like some haven't allowed it at all.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Look up the CARES Act. I think they're allowing you to get your contribution back. Ask your HR department.

Correct - DCFSA can be adjusted due to CARES. Call FSA M-F between 9am-9pm. Good luck!

To be clear- you can change your adjustment but once FSA has your money, you cannot just ask for it back. Don’t spread lies!

This is our problem. We stopped contributions at the end of March but still have $1k in there we cannot claim. It’s outrageous.

[Anonymous]

Online camp does count! We signed up our kids for Outschool camps and submitted them. So far so good!

https://outschool.com/summer#usKiBvNMdV

[Anonymous]

If camp $ moved to next year by camp, can they submitted for this year? If not, we are in big trouble. Big...for us.

[Anonymous]

Anonymous wrote:If camp $ moved to next year by camp, can they submitted for this year? If not, we are in big trouble. Big...for us.

Big NO to that.