Hello Atlanta Tax Expert,
If excess contribution was made in 2020 , what is the best course of action to avoid tax and penalty on the excess contribution and the earnings before April 15th. HSA was done through payroll.
Hello Atlanta Tax Expert,
If excess contribution was made in 2020 , what is the best course of action to avoid tax and penalty on the excess contribution and the earnings before April 15th. HSA was done through payroll.
Contact the HSA custodian and arrange to have the excess contributions withdrawn.
This may have to be done through the payroll or HR department of your company.
Thanks. Appreciate your response.
Glad to help
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