Added on from retirement plan limits, these adjustments are calculated and released by the Internal Revenue Service (IRS) each year. Released on November 4, the IRS provided tax inflation adjustments for 2022 in Notice 2021-45.
There are a few changes for FSA and Commuter limits so be sure to view a detailed listing below:
|Monthly Transit/Van Pooling||$280*||$270||$270|
|Monthly Qualified Parking||$280*||$270||$270|
|FSA Medical Maximum Deferral||$2,850*||$2,750||$2,750|
|Medical FSA Carryover||$570*||$550||$550|
|FSA Dependent Care Max. Deferral||$5,000*||$10,500||$5,000|
|* Indicates a change from 2021 to 2022.|