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Publication 525 Schema: tipx Leadpct: 100% Pt. size: 8 (Init. & Date) _______
Cat. No. 15047D Contents
Department Taxable and Future Developments . . . . . . . . . . . . 1
of the What's New . . . . . . . . . . . . . . . . . . 1
Treasury
Internal Nontaxable Reminders . . . . . . . . . . . . . . . . . . . 1
Revenue
Service Income Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3
Employee Compensation .
Special Rules for Certain
Employees . . . . . . . . . . . . . . . 15
For use in preparing Business and Investment Income . . . . 17

2022 Returns Sickness and Injury Benefits . . . . . . . 18
Miscellaneous Income . . . . . . . . . . . 20

Repayments . . . . . . . . . . . . . . . . . 37
How To Get Tax Help . . . . . . . . . . . 38
Index . . . . . . . . . . . . . . . . . . . . . 40

Future Developments

For the latest information about developments
related to Pub. 525, such as legislation enacted
after it was published, go to IRS.gov/Pub525.

What's New

Deferred compensation contribution limit
increased. If you participate in a 401(k),
403(b), or the federal government's Thrift Sav-
ings Plan (TSP), the total annual amount you
can contribute is increased to $20,500 ($27,000
if age 50 or older). This also applies to most 457
plans.
Health flexible spending arrangements
(health FSAs) under cafeteria plans. For tax
years beginning in 2022, the dollar limitation un-
der section 125(i) on voluntary employee salary
reductions for contributions to health FSAs is
$2,850.

Reminders

Temporary Allowance of 100% Business
Meal Deduction. Section 210 of the Taxpayer
Certainty and Disaster Tax Relief Act of 2020
provides for the temporary allowance of a 100%
business meal deduction for food or beverages
provided by a restaurant and paid or incurred
after December 31, 2020, and before January
1, 2023.
Paycheck Protection Program loan forgive-
ness. Gross income doesn’t include any
amount arising from the forgiveness of a Pay-
check Protection Program (PPP) loan, effective
Get forms and other information faster and easier at: for taxable years ending after March 27, 2020.
• IRS.gov (English) • IRS.gov/Korean (한국어) (See P.L. 116-136.) Likewise, gross income
• IRS.gov/Spanish (Español) • IRS.gov/Russian (Pусский) does not include any amount arising from the
• IRS.gov/Chinese (中文) • IRS.gov/Vietnamese (Tiếng Việt) forgiveness of Second Draw PPP loans,
effective December 27, 2020. (See P.L.
Feb 7, 2023