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Form 8853 Texas: What You Should Know
SPARSE) plan, under a deferred compensation plan, or under a defined contribution plan of an employer with more than 100 employees will be reported on Form 2848. The amount of the reduction would be reported on line 31 of Form 8853. Determination of Employee's Coverage: If the employee is eligible for SSI, your Employer must provide him with ANSI information and instructions on Form SS-16, Employer S-Paid Subsidies and Cost-Sharing Contributions. For Additional Information, see Form 8853 TX, TX IT, and TX S-Paid Subsidies and Cost-Sharing Contributions. You have to complete a form 8853 before a person can get a tax deduction for contribution to an Archer MSA. In Texas, Archer MSA's are not deductible. There are several reasons why it may be important to have your employee complete the Form 8853: You want your employee to pay more taxes, You want to know your employee's coverage; You want to calculate how much ANSI you can deduct, and You want to file a tax return to report the ANSI you deduct on your employee's Form 8802 The ANSI payment is subject to income tax, which means that the ANSI payment for a tax year is calculated by applying the current year's ANSI rate to the amount reported for the previous year. For tax years 2024 and later, this ANSI rate is 2%. For tax years 2024 and earlier, the current year's ANSI rate is 1%. You will see the current rate is lower than the ANSI rate for previous years. Note: The amount shown on line 31 will be the difference between the current year's ANSI rate and your employee's ANSI rate in the statement form. Form 8802 — Texas Section 199E Credit (Payable to You, Your Employees, and Your Employer) The ANSI payment is the same amount as the ANSI required for Form 8802, (Payable to You, Your Employees, and Your Employer). For More Information, see Texas Section 199E Credit. The form is available on the IRS website.
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