With tax season upon us, your employees may have questions about HSAs and taxes.
Tax season frequently asked questions (FAQs)
Your employees may need answers to questions ranging from how to report HSA distributions to what types of receipts and records they need to supply.
HSA tax forms
There are four primary federal tax forms for HSAs:
- IRS Form 1099-SA: This form reflects distributions from their HSA in 2014.
- IRS Form 5498-SA: This form reflects contributions made in tax year 2014 and 2015 designated for tax year 2014.
- IRS Form 8889: This form is completed by the accountholder as part of their 2014 tax return.
- W-2: This form is supplied to accountholders by their employer.
Read the full article from Wells Fargo here.
Contact Steven G. Cosby, MHSA with questions or to request more information and to schedule a healthcare plan evaluation, savings analysis or group plan solution for your company.