IRS Issues Health Savings Account Partnership Guidance By Fred Adams Vice President- HSA for America

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IRS officials announced today the release of guidance for firms that wish to fund health savings accounts of the partners.

IRS Notice 2005-8 explains how the Internal Revenue Service will be applying deductibility provisions for a partnership’s contributions to a partner’s Health Savings Account (HSA), and an S corporation’s contribution to a 2-percent shareholder-employee’s HSA.

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