What is the IRS ruling in regards to overdrawing a health savings account? I am under the impression that this is a huge no-no.
There is no IRS ruling that can immediately be quoted, but there are bankers who spoke with officials at the Department of the Treasury who stated that overdrawing a HSA is not permitted. This is akin to spending tax-preferred savings before it is saved.
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There is no IRS ruling that can immediately be quoted, but there are bankers who spoke with officials at the Department of the Treasury who stated that overdrawing a HSA is not permitted. This is akin to spending tax-preferred savings before it is saved.
