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Dependent Care Reimbursement Account DCRA Bates College Bates Form
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People also ask
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What is the dependent care reimbursement account DCRA?
These programs generally are not educational in nature. Their primary purpose is to care for children while parents are at work. However, educational expenses (e.g., tuition) won't qualify. Potentially qualifying expense Will qualify if it is an expense that must be paid in order to obtain the related care.
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How does a dependent care reimbursement account work?
How does a DCSA work? You estimate what you will spend for work-related child or adult care expenses for the upcoming plan year. Then, you contribute pretax money each pay cycle to your account. As you incur qualifying expenses, you can submit a claim to request reimbursement from your account.
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What is the purpose of the DCRA?
The Department of Consumer and Regulatory Affairs (DCRA) protects the health, safety, economic interests and quality of life of residents, businesses and visitors in the District of Columbia by ensuring code compliance and regulating business.
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Is a DCRA account worth it?
This account allows you to set aside a portion of pre-tax earnings to pay for qualified expenses and money deducted from your pay that is put into a DCRA is not subject to payroll taxes, resulting in substantial payroll tax saving.
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Is DCRA use it or lose it?
Use it or lose it DCRA funds do not roll over from year to year. Employees must use DCRA dollars within the plan year or they will be forfeited.
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