Masks, hand sanitizers, PPE are tax-deductible, IRS saysMar 27, 2021 06:26AM ● By Editor
By Jordan Smith of KMSP-TV Fox 9 News - March 26, 2021
The Internal Revenue Service announced on Friday that personal protective equipment purchased to stop the spread of COVID-19 are considered tax-deductible.
PPE such as masks, hand sanitizer, hand soap, disposable gloves and sanitizing wipes qualify as deductible medical expenses, the IRS said in a news release.
These purchases are eligible to be reimbursed under health flexible spending arrangements (health FSAs), Archer medical savings accounts (Archer MSAs), health reimbursement arrangements (HRAs), or health savings accounts (HSAs).
But according to FOX Business, taxpayers can deduct expenses for protective equipment if they have medical expenses that exceed 7.5% of their adjusted gross income and they itemized their tax returns.
For more information on what qualifies as deductible, the IRS encourages taxpayers to click the following links:
Last month, the IRS said eligible teachers could deduct unreimbursed expenses for PPE bought later than March 12, 2020.
Federal tax season began on Feb. 12 and typically runs until April 15. But this year it will end on May 17.
The IRS extended the deadline so they can process a backlog of paper returns from last year and incorporate changes the Biden administration has made to the tax code.
To see the original report and read related articles, follow this link to the Fox 9 News website. https://www.fox9.com/news/masks-hand-sanitizers-ppe-are-tax-deductible-irs-says