The IRS Deductions Blog

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Items on Amazon Right Now for High Deductible Health Plan Irs:

Question: Is ELECTIVE egg harvesting reimbursable from Flex Spending?

IRS guidelines for Deductible Medical expenses and those reimbursable under section 125 of the Flexible Spending provsion state that fertility treatments (including IVF) are eligible if used to “overcome an inability to have children”. I have not been diagnosed with fertility and have not been trying to get pregnat, but I am wanting to extend my fertility by harvesting eggs and freezing them or resulting embryos (should I choose to fertilize before freezing) for potential use in the future.

I am at an age where fertility is generally accepted to be diminished but I have no medical evidence or diagnosis of infertility.

Answer: Basically anything that is elective is not allowed. In saying that, I can think of half a dozen exceptions, but this isn’t one of them.

I’d love to add to this, to offer suggestions of ways you might be able to finance this or get around tax, but there’s nothing. This just really doesn’t count under any of the rules.

Items on Amazon Right Now for Irs Deductible Medical Expenses:

Umbilical Cord Blood – TaxMama.com

Question: Can I contribute to an FSA through my employer if I’m covered by my husband’s HDHP insurance w/ HSA?

My daughter and I are covered by my husband’s health insurance through his employer. We have a High Deductible Health Insurance Plan and contribute to a Health Savings Account through my husband’s payroll deduction.

Through my employer, I have only elected to have Vision coverage. So, can I set up a Flexible Spending Account through my employer and contribute through my own payroll deduction? I’m asking b/c I would like to have an FSA to pay for my daughter’s daycare expenses so that I may take advantage of the tax benefits of doing so. Thanks!

Answer: This is a question that can only be answered by your HR dept. If they offer an FSA for childcare expenses and medical expenses, it does not matter that you only have vision.

Items on Amazon Right Now for Health Savings Account Deductible Expenses:

Health Savings Account Overview

Question: Does anyone know of a charity that would accept jewelry as a donation?

I have an old engagement ring that I would like to donate to a charity that is recognized by the IRS (for tax deduction purposes). Does anyone know of an organization that would accept a piece of jewelery? Thanks……

Answer: I might suggest a better alternative… send your ring to MIDWEST REFINERIES & donate the proceeds to whomever you choose. Midwest is not like those scams Gold kit and such. They are a real refinery – family run – take a very small (%5) of the gold value. I have done business with them for 2 years now. They don’t charge any Extra for assaying or melting. They pay you strait up 95% of the value of the gold in the jewelry. You can look them up at www/midwestrefineries.com No order is too small. If you send to them on Monday… many times I have gotten payment by the following Monday. Most Charities other than the salvation army wouldn’t know what to do with the Ring or it would unfortunately now days end up in someones pocket. I run a non profit & that is where we send all our jewelry we get from storage auctions or donaitons.

Items on Amazon Right Now for Irs Tax Deductions For Donations:

IRS TAX TIPS: Charitable Contributions (ASL, CAPTIONS, & AUDIO)

Question: IRS Form 8379 (Injured Spouse) How to maximize my return? Help!?

I am filling out IRS form 8379 (Injured spouse). My husband owes back child support so they are gonna take any refund he gets. We have 4 children. I am claiming them on this form as well as myself but not sure how to break down the standard deduction between the two of us to get back the most. Same thing with the credits (Line 17). Please help!!

Answer: The standard deduction would be $5450 for each of you. As for the credits, if you are claiming all the children, then you will allocate the credits under you unless they are specifically for your husband. This will not include the earned income credit. In the long run the IRS will take the information you are submitting and allocate the income, deductions and credits based on how you file the 8379.

It could take 11-14 weeks for the IRS to process the claim.

Laura H – H&R Block – Senior Tax Advisor 5
**This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.

Items on Amazon Right Now for Standard Deduction Irs:

New Tax Changes : 2011 standard deduction