The Internal Revenue Service (IRS) recently published Revenue Procedure 2022-38.
The Revenue Procedure includes the inflation-adjusted 2023 contribution limits for certain employee benefit programs. Below is a summary of some of those contribution limit adjustments.
The monthly contribution limit for mass transit is $300 (an increase of $20).
The monthly contribution limit for qualified parking is $300 (an increase of $20).
The maximum annual contribution for single-only coverage for 2023 plan years is $5,850 (an increase of $400).
The maximum annual contribution for family coverage for 2023 plan years is $11,800 (an increase of $750).
The Internal Revenue Service (IRS) recently published Revenue Procedure 2022-38. The
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