The IRS recently posted a reminder on their website that the cost of home testing for COVID-19 is an eligible medical expense that can be paid or reimbursed under health flexible spending arrangements...
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The IRS gets copies of 1099 and W-2 forms you receive and cross-checks them with the income shown on your tax return. A mismatch can cause the IRS to automatically generate a bill that will be mailed to you.
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The premium tax credit helps individuals pay for health insurance they buy through the marketplace. It's available for people with household incomes ranging from 100% to 400% of the federal poverty level.… https://t.co/j9vhW7A5tp
The overall individual audit rate may only be about one in 170 returns, but the odds increase as your income goes up (especially if you have business income). IRS statistics for 2018 show that individuals with… https://t.co/rqlbSJz8Mo