The IRS has established a special web page to help taxpayers, businesses and others affected by the coronavirus. The web page will be updated as new information becomes available.
For health information about the COVID-19 virus, visit the Centers for Disease Control and Prevention (https://www.coronavirus.gov). Other information about actions being taken by the U.S. government is available at https://www.usa.gov/coronavirus and in Spanish at https://gobierno.usa.gov/coronavirus.
Additionally, the IRS this week advised that high-deductible health plans (HDHPs) can be used to pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment, without jeopardizing their status.
This also means that an individual with an HDHP that covers these costs may continue to contribute to a health savings account (HSA).
As stated in Notice 2020-15, health plans that otherwise qualify as HDHPs will not lose that status merely because they cover the cost of testing or treatment of COVID-19 before plan deductibles have been met.
As in the past, any vaccination costs continue to count as preventive care and can be paid for by an HDHP.
Contact the Tax Lawyers at
www.TaxAid.com or www.OVDPLaw.com
or Toll Free at 888-8TaxAid
Read more at: Tax Times blog
