DiSabatino CPA Blog

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

Extension for Form 1095 Reporting

Extension for Form 1095 Reporting

Extension for Form 1095 Reporting
What everyone needs to know

For 2015 tax returns, everyone employed by a company with 50 or more employees will receive a new Form 1095. This form is in addition to the Form 1095’s received by other taxpayers using the Marketplace to purchase their health insurance. You need this form to file your taxes as it provides the necessary proof that you have adequate health insurance for the year.

A recent announcement by the IRS provides a delay for the issuing of this form due to complications in creating the proper form by employers and insurers.

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W-2s, 1099s...and Now 1095-A

W-2s, 1099s...and Now 1095-A

Are you prepared for this new IRS Form?

There will be a new tax form filling mailboxes beginning January, 2015. This Form 1095-A is a Health Insurance Marketplace Statement. If you participate in the Healthcare Marketplace, you will need this new form prior to filing your tax return. Here is what you need to know.

Background

Each year the tax-filing season begins with the receipt of forms required to file your tax return. Employees receive W-2s from their employers. Individuals receive various 1099 forms for reporting interest, dividends, capital gains and independent earnings as sole proprietors. If you used the Healthcare Marketplace to purchase health insurance, you will now need your 1095-A form to file your tax return.

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