Thread regarding Esterline Technologies Corp. layoffs

Korry liquidated employees limited and dependent Flexible Spending Accounts before IRS issued Notice 2020-29 and Notice 2020-33.

New IRS guidance provides employers with section 125 Plan flexibility during 2020 Covid-19 Pandemic. The IRS expands opportunities to avoid forfeiture of unused FSA funds. However, Korry usurped FSA funds after 30 days from termination notice. These New IRS rules provide for extended grace period for limited health or dependent care FSA for 2020. Korry may have jumped the gun by seizing funds after only 30 days post layoff notice. As of May 12, 2020, the IRS issued two new notices (Notice 2020-29 and Notice 2020-33). Namely, extended grace periods for unused funds due to the Covid-19 Pandemic.

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Post ID: @OP+16Yd2Yv4

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Sounds like something the "Evil Empire", the Transdigm/Korry cabal, would do. Not surprised one bit. The employees should bring this to the IRS and State regulators attention. Also, add another investigation to the Transdigm portfolio... It couldn't happen to kinder and gentler company. JK

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Post ID: @2ega+16Yd2Yv4

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