Rev. Proc. 2020-45 provides annual inflation adjustments for more than 60 tax provisions for 2021, including those related to transportation fringe benefits (remains $270) and flex spending (remains $2,750).

Notice 2020-79 provides increased contribution limitations for pension plans and other retirement-related items for 2021, with key employee contribution limits remaining unchanged (limit on contributions to 401(k) and 403(b) plans remains $19,500 and the catch-up contribution limit remains $6,500).