The CARES Act has a lot of little things that you can take advantage of:
- Over the counter drugs and feminine hygiene products can be paid for with your HSA.
- Taxpayers who have outstanding tax debts will have liens or levies suspended, and new delinquent accounts will not be sent to collection at this time.
- Distributions from retirement accounts will not incur the 10% penalty for certain taxpayers.
- Taxpayers can take an above-the-line charitable deduction for up to $300 in qualified cash donations.
- HDHPs can pay for COVID-19 related care without jeopardizing their status.