On December 9th, 2016 the IRS announced that tax season will begin January 23rd, 2017. With that day fast approaching, we have recently updated our website with all the new health savings account (HSA) tax forms and publications you will need to file your 2016 tax return. Links and a quick explanation of each is listed below:
IRS Form 8889
The IRS Form 8889 will need to be filled out by everyone filing an income tax return with a health savings account. It is to report all contributions for the year into your HSA, help you figure out your HSA deduction, and to report the distributions from your HSA.
IRS Form 8889 Instructions
The IRS Form 8889 Instructions is a basic guideline with the rules and tips on how to fill out the 8889 Form.
IRS Publication 502
The IRS Publication 502 lists all eligible medical expenses for your HSA, as a point of reference. If necessary, it is also designed to walk you through your itemized deductions for these expenses that you will claim on Schedule A in your 1040 Form.
IRS Publication 969
The IRS Publication 969 is for HSAs and other tax-favored health plans, such as MSAs, FSAs and HRAs. It quickly explains each type of account and how the contributions and deductions work for each.
Additional Website & Enrollment Form Updates
Our website has also been updated with the new enrollment packets and informational flyers for your 2017 contribution figures. This includes information on how to open an HSA and the logistics, as well as a checklist, information on eligibility & contributions, fees and the application to apply for an HSA.
All of the documents listed above (and more) can be found at the following link:
If you are also interested in more IRS information on HSAs you can visit the page below which has links to IRS Notices, Codes, Rulings, and Publications.
The deadline this year to file your taxes is April 18th, 2017, due to April 15th falling on a Saturday and Emancipation Day in D.C. falling on Monday, April 17th. If you have any questions about filing your 2016 taxes and/or your 2017 HSA contributions don’t hesitate to contact our office and we’re happy to help!
Thanks for reading, and here’s to a safe, healthy and happy 2017!