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Posted by Alan on February 4, 2008, 11:06 pm
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Andrew wrote:
> Hopefully this fits in with the guidelines of this tax NG. If not, sorry!
>
> Does anyone know exactly where the rules are (in some Federal tax code,
> perhaps) that stipulates the rules regarding HCRA and the fact that if you
> don't use up your declared value, you lose the money? And where some
> discussion might be that explains WHY that rule is the way it is?
>
> My daughter decided against using the HCRA for her first year in the work
> force because she didn't know what her annual bills out of pocket would be
> and is nervous about foregoing hard earned cash. Thus, she loses out on the
> value of the savings. (I know she could REALLY low-ball the figure, but
> then, what's the point??)
>
> Seems to me (without perhaps understanding the reasons) why 'they' could
> simply give you the same tax benefit without a third party holding onto your
> money, and losing it if you estimate too much. The rules are onerous on
> this it is, for this example, causing my kid not to participate.
>
> I don't want to get into a discussion about this here; just the pointers so
> I can get into the discussion with my Congress person. I'm pretty annoyed.
> Must be something I'm missing.
>
http://www.taxalmanac.org/index.php/Notice_2005-42 explains it.
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