LogFAQs > #977048744

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Topic	Reminder: HSA is the best retirement program, better than 401k, IRA, 493B
theAteam 11/05/23 2:12:40 PM #35:	CE_gonna_CE posted... If you ever were to get audited by the IRS and couldnt prove that it was a valid HSA reimbursable expense, they would make you pay the taxes + any penalties and fees on that distribution. That's my understanding, anyway. The plans are pretty lax about what you need to submit to get the money out, and place the burden of proof on you to ensure that the expenses are qualified and you have the proper receipts and documentation to back everything up. Well I guess Ill get fucked if they do that. Its $200 worth of expenses I sure hope they dont waste a ton of resources tracking that down. --- Buffalo Bills <cite>theAteam posted [p:977048744] in Reminder: ... [t:80612125]...</cite> <quote>CE_gonna_CE posted... </cite><quote>If you ever were to get audited by the IRS and couldnt prove that it was a valid HSA reimbursable expense, they would make you pay the taxes + any penalties and fees on that distribution. That's my understanding, anyway. The plans are pretty lax about what you need to submit to get the money out, and place the burden of proof on you to ensure that the expenses are qualified and you have the proper receipts and documentation to back everything up.</quote>Well I guess Ill get fucked if they do that. Its $200 worth of expenses I sure hope they dont waste a ton of resources tracking that down. --- Buffalo Bills</quote> ... Copied to Clipboard!
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