Government Affairs and Advocacy

 View Only
last person joined: 20 hours ago 

This is a channel that we use to keep members in the loop about the latest policy documents and developments. Our work in advocacy cuts across all areas of expertise and impacts all of our members.

Our Director of Government Affairs & Advocacy, Cynthia Smith, and our Advocacy Manager, Jenna Thoretz, post regular updates so our members are alerted to changes in the sector as they happen. We encourage everyone who joins Connect to become part of this community and to keep up to date with the information shared here. Posts to this community go live on our website, and you may wish to use the anonymous posting option if you have a question to ask here.
Back to eGroups
Expand all | Collapse all

US Internal Revenue Service: Mileage Rate Increase for 2022; 2023 Inflation Adjusted Amounts for Health Savings Accounts

  • 1.  US Internal Revenue Service: Mileage Rate Increase for 2022; 2023 Inflation Adjusted Amounts for Health Savings Accounts

    Posted 09-07-2022 09:40

    IRS increases mileage rate; 2023 inflation adjusted amounts for Health Savings Accounts

    FSLG Newsletter

    August 25, 2022

    Useful Links

    FSLG Home

    FSLG News

    Information Returns

    Worker Classification FAQ's

    Request a Speaker

    FSLG Toolkits

    Other IRS Resources

    News

    Frequently Asked Questions

    Forms & Instructions

    Contact My Local Office

    Taxpayer Advocate

    Filing Options

    Where to File

    IRS increases mileage rate for remainder of 2022

    The IRS announced an increase in the optional standard mileage rate for the final 6 months of 2022 in recognition of recent gasoline price increases. Taxpayers may use the optional standard mileage rates to calculate the deductible costs of operating an automobile for business and certain other purposes, effective July 1, 2022.

    2023 inflation adjusted amounts for Health Savings Accounts

    Revenue Procedure 2022-24 provides the 2023 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under Section 223 of the Internal Revenue Code and the maximum amount that may be made newly available for excepted benefit health reimbursement arrangements (HRAs) provided under Section 54.9831-1(c)(3)(viii) of the Pension Excise Tax Regulations.

    For calendar year 2023, the annual limitation on deductions for:

    • Individual with self-only coverage under a high deductible health plan is $3,850
    • Individual with family coverage under a high deductible health plan is $7,750 


    ------------------------------
    Cynthia Smith
    Director, Government Affairs and Advocacy
    Humentum
    cynthia.smith@humentum.org
    ------------------------------