Medical Tax Issues Self-Study
We've seen some major changes to tax law after the enactment of the Tax Cuts and Jobs Act, including in relation to medical tax issues many of your clients will face. With current uncertainty regarding health insurance and medical tax benefits not addressed in TCJA, taxpayers are looking for guidance. This course examines health savings accounts (HSAs), health flexible savings accounts (FSAs), health insurance premium reimbursements, health reimbursement accounts (HRAs) and the nondiscrimination rules for self-insured medical reimbursement plans. You'll also learn how to calculate and report the credit in various situations.
Upon completion of this course, you will be able to:
- Determine if a taxpayer is eligible to make HSA contributions.
- Compute an eligible taxpayer’s HSA contribution limit when there is a change in circumstances.
- Report HSA contributions and distributions on Form 8889, Health Savings Accounts (HSAs).
- Summarize health FSAs and how they impact HSA contributions.
- Determine when employers are subject to a penalty under §4980D for reimbursing health insurance premiums.
- List the tax benefits of an HRA.
- Summarize the tax effects of the Affordable Care Act on health FSAs and HRAs.
- File Form 720 to report the excise tax imposed on HRAs.
- Determine if a taxpayer is eligible to claim the premium tax credit.
- Compute the premium tax credit in different situations.
- Summarize the nondiscrimination rules for self-insured medical reimbursement plans.
This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.