Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   HSA Excess contribution (https://www.askmehelpdesk.com/showthread.php?t=848002)

  • Mar 5, 2021, 05:42 AM
    Trishala Raj
    HSA Excess contribution
    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.
  • Mar 5, 2021, 09:16 AM
    AtlantaTaxExpert
    Contact the HSA custodian and arrange to have the excess contributions withdrawn.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.
  • Mar 6, 2021, 09:18 PM
    Trishala Raj
    Thanks. Appreciate your response.
  • Mar 6, 2021, 09:24 PM
    AtlantaTaxExpert
    Glad to help

  • All times are GMT -7. The time now is 03:03 PM.