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With this year's deadline to file personal income taxes coming up on April 18, employers can play a role in guiding employees through the process of reporting health savings account (HSA) activities on their tax returns.
HSAs are triple-tax advantaged — qualified contributions are tax-free, the money in them grows tax-free and withdrawals used for qualified medical expenses are tax-free. However, the Internal Revenue Service requires individuals to report HSA contributions and withdrawals when they file their returns.
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