Beginning in 2011, over-the-counter medications, except for doctor prescribed over-the-counter medication and insulin, will no longer qualify for reimbursement. This restriction applies to health reimbursement accounts (HRAs), health flexible spending accounts (FSAs), health savings accounts (HSAs), and Archer medical savings accounts (MSAs).
- Street Address
1050 Forrest Ave.
Gadsden, AL 35901
Get Map and Directions
Mailing Address
P. O. Box 1070
Gadsden, AL 35902
Phone:
(256) 547-2588
Fax:
(256) 543-2950
E-mail:
accountant@hhscpa.com 
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Important Dates
Personal Finance
- 401(k) Contribution Limits: Many employers offer what are commonly referred to as 401(k) plans, named after the tax code section...
- Above-The-Line Education Deduction: Through 2011, taxpayers are allowed up to a $4,000 above-the-line deduction for qualified higher edu...
- Self-Employed Education Twists: Self-employed taxpayers should consider their options carefully when it comes to applying tax benefi...
- Deduction for Higher Education Interest: When this deduction was first created some years back the deduction was limited to interest for the ...
- Educational Tax Credits: The law provides for two nonrefundable tax credits, the American Opportunity (or Hope Scholarship cr...
- Federal Estate Tax Retroactively Reinstated: The Bush era tax cuts slowly phased out the federal estate tax and abolished it altogether for dec...
- New Penalties for Failure to File or Furnish Information Returns: Tax law requires businesses to provide information returns, such a 1099s, to each payee that the bu...
- Rental Owners Need to Prepare for New 2011 Reporting Requirement: If you are a rental owner and during 2011 make payments of $600 or more to a service provider (suc...
- Small Employer Simple Cafeteria Plans: For years beginning after Dec. 31, 2010, small employers (average of 100 or fewer employees on busin...
- Mandatory Health Insurance Overview: Many of the provisions of the Health Care Legislation are linked to the mandate that everyone become...