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90 Percent Rule Update - IRS NOTICE 2008-104
The IRS has made a significant change pertaining to the implementation date for the 90% rule. The Rule will require that for a pharmacy to be eligible to accept FSA and/or HRA linked debit cards a pharmacy must either have an IIAS in place or have 90% or more of their gross sales from eligible items.
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Medical Mileage Rate Decrease Effective January 1, 2009
Effective January 1, 2009, the standard mileage reimbursement rates for medical and moving purposes have decreased from the current rates. As a reminder, the use of an automobile to obtain medical care may be a deductible medical expense if the expense is primarily for, and essential to, medical care.
Read more … Medical Mileage Rate Decrease Effective January 1, 2009
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New Transportation Fringe Benefit to Bicycle Commuters
The benefit -- up to $20 per month -- begins with the new year in 2009. Employers may reimburse employees, tax free, for "reasonable" expenses related to their bike commute, including equipment purchases, bike purchases, repairs, and storage if the bicycle is used as a "substantial part" of the commuter's trip to work for the month.
Read more … New Transportation Fringe Benefit to Bicycle Commuters