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Article: Congressman Cannon introduces bill to make supplements deductible.(TOP OF THE NEWS)(Brief Article)
- Article from:
- Nutraceuticals World
- Article date:
- June 1, 2005
CopyrightCOPYRIGHT 2005 Rodman Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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On April 25th, Congressman Chris Cannon (R-UT) announced the introduction of a bill called the Dietary Supplement and Healthy Meal Replacement Tax Parity Act (HR 1545). The bill would allow the Internal Revenue Service (IRS) to consider certain meal replacement products and dietary supplements as deductible expenses under the Health Savings Accounts (HSA). Dietary supplements eligible for the deduction include those that qualify for a health claim permitted by FDA. Meal replacement products, in order to qualify for ...
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