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Tax-advantaged benefit programs prominent in tax season

With the 2017 tax season in full swing, employers — and employees — are probably focusing on benefit programs that offer tax advantages in addition to their other functions.

According to YouDecide, a voluntary benefits outsourcing, consulting and technology firm, the top three requested employee pretax benefit programs are health savings accounts, educational assistance and commuter benefit programs.

And according to Willis Towers Watson’s 2016 survey on voluntary benefits, employers are expanding their use of voluntary benefits as an “inexpensive way to enhance their portfolio of benefit offerings.”

In fact, the survey reports that 92 percent of U.S. employers believe voluntary benefits and services (VBS) will be important to their employee value proposition over the next three to five years, compared with 73 percent in 2015.

Read More: http://www.benefitspro.com/2017/03/03/tax-advantaged-benefit-programs-prominent-in-tax-s?ref=hp-top-stories