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v. t. e. In the United States, a flexible spending account ( FSA ), also known as a flexible spending arrangement, is one of a number of tax-advantaged financial accounts, resulting in payroll tax savings. [1] One significant disadvantage to using an FSA is that funds not used by the end of the plan year are forfeited to the employer, known as ...
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Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an ...
In addition, during the same time period, she wrote checks to herself in the amount of $450,000 from the company’s payroll account without authorization, say police.
The scheme was not discovered until a former employee contacted the payroll department about discrepancies in her federal W-2 tax form. By that time, Thomas had embezzled $480,000 from the hospital.
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