On November 2, 2017, House Republicans introduced a tax reform bill (H.R.1-115th Congress) called the “Tax Cuts and Jobs Act” that, if passed, would impact multiple aspects of the tax code. Many of these changes relate to employee benefit plans, particularly in relation to certain fringe benefits.
The bill is in markup now, but could impact the following:
- Dependent Care Flexible Spending Accounts
- Adoption Assistance
- Education Assistance
- Employer tax deductions for transportation benefits, on-premise athletic facilities, employer provided child care