News & Analysis as of

Internal Revenue Service Internal Revenue Code (IRC) Medical Expenses

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Seyfarth Shaw LLP

Guidance Issued on Contraception and Other Medical Services Under Health Plans

Seyfarth Shaw LLP on

The IRS recently published two notices which describe the tax treatment of amounts paid for condoms and expand the list of preventive care benefits permitted to be provided by a high deductible health plan (HDHP) without...more

McDermott Will & Emery

IRS Issues Reminder That Claims Under Health and Dependent Care FSAS Must Be Substantiated

McDermott Will & Emery on

In a recently issued Chief Counsel Advice memorandum, the Internal Revenue Service (IRS) reminded sponsors of health and dependent care flexible spending arrangements (FSAs) of their obligation to properly substantiate claims...more

Jackson Lewis P.C.

What Medical Expenses Qualify as Tax Deductible Under Section 213 Of The Internal Revenue Code?

Jackson Lewis P.C. on

On March 17, 2023, the Internal Revenue Service (IRS) issued new frequently asked questions (FAQs) addressing whether certain costs related to nutrition, wellness, and general health are medical expenses under Sec. 213 of the...more

McDermott Will & Emery

IRS Issues Guidance on the Deductibility of Fertility Treatments for Same-Sex Couples

McDermott Will & Emery on

On April 9, 2021, the Internal Revenue Service (IRS) released PLR 202114001 (PLR), which provides guidance on the deductibility of medical costs under Section 213 of the Internal Revenue Code (Code) relating to fertility...more

Roetzel & Andress

IRS Announces That COVID-19 Related Personal Protective Equipment Qualifies As A Medical Expense Group Health Plans, Health FSAs...

Roetzel & Andress on

On March 26, 2021, in Announcement 2021-7, the IRS notified taxpayers that amounts paid for personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread...more

Gerald Nowotny - Law Office of Gerald R....

TELL ME SOMETHING GOOD! Planning for Post-Retirement Medical Expenses with 401(h) Plans

Barron’s recently reported in an article called The Real Cost of Healthcare in Retirement. The article suggests that seniors with adequate Medicare coverage will spend on average $260,000 per couple on healthcare from age 65...more

McDermott Will & Emery

Genetic Testing Kits and FSAs

McDermott Will & Emery on

The IRS issued a private letter ruling (PLR) this week indicating that an FSA (and presumably an HSA and HRA) may reimburse a portion of the purchase of genetic testing and reports regarding ancestry and health. The IRS noted...more

Foster Garvey PC

Decoding the Tax Cuts and Jobs Act – Part VII: Family Matters and Major Events in the Lives of Individuals

Foster Garvey PC on

The Tax Cuts and Jobs Act (“TCJA”) creates the need for tax planning with respect to several major life-changing activities individuals may encounter, including marriage, divorce, home ownership, casualty losses, medical...more

Schwabe, Williamson & Wyatt PC

Summary of Tax Cuts and Jobs Act

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

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