Which of the following statements is TRUE regarding excess health saving account (HSA) contributions? Excess HSA contributions:
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Which of the following statements is TRUE regarding excess health saving account (HSA) contributions? Excess HSA contributions:
Can be rolled into the following year's contributions by completing Form 2121.
May be removed, without penalty, by the due date of the tax return, including extensions.
Are subject to a 20% penalty.
Can only be resolved by the taxpayer's employer. There is no effect on income tax.
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Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
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