FlexNews
Beginning July 1, 2008, mileage rate for medical travel has increased to
$.27 per mile.
The mileage rate for
medical travel in 2008 is $.19 per mile.
IRS Information Letter 2007-0037 explains that diet foods, meal
replacements and dietary supplements are not eligible expenses through a
flex plan.
www.drugstore.com has an FSA (flexible spending account) store which
provides a fairly detailed list of eligible over the counter drugs that
qualify for reimbursement through the flex plan.
The IRS recently issued proposed regulations regarding eligible
employment related day care expenses. (1) expenses of pre-school or similar
programs below - and not at or above- kindergarten level; (2) the full
amount paid for day camp or similar program for the care of a qualifying
individual, even if the camp specializes in a particular activity, such as
soccer or computers; (3) the cost of transportation (such as transportation
to a day camp or to an after-school program not on school premises) a
dependent care provider furnishes; (4) a care provider's additional room and
board costs, and indirect expenses such as application and agency fees; and
(5) short temporary absences from work, such as for minor illness of
vacation for the taxpayer who must pay for dependent care expenses on a
weekly or longer basis.