The Federal Tax Code Requires Flexible Spending Account Funds to Be

question 24

True/False

The federal tax code requires flexible spending account funds to be earmarked in advance and spent during the plan year, with any remaining funds reverting to the employee.

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Definitions:

Integrity

Completion, wholeness, and soundness; a quality of character requiring honesty and courage; a virtue necessary for trust; the most important quality desired in a leader. See values, honesty, and courage.

Adversity

Difficult or unfavorable conditions or situations that pose challenges to individuals or groups.

Personal Loss

An individual's experience of losing something significant in their life, which can include the death of a loved one, loss of a job, or end of a relationship.

General Electric

A multinational conglomerate corporation involved in various sectors, including aviation, power, renewable energy, and healthcare, among others.