DiSabatino CPA Blog

DiSabatino CPA Blog

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

Do I Really Need That #!*>x$! Tax Form 1095? Stop holding up your tax filing

Tax Form 1095 has been nothing but a headache since its introduction. This federally mandated form adds complexity, creates taxpayer confusion, and cost billions of dollars to produce. The purpose of the form is simple: to relay proof of your health insurance coverage, but too many taxpayers are now delaying filing tax returns while waiting for this form.

Top line: STOP WAITING for the form to file your tax return! At least for most of you.

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Missing a Form? Not an Excuse.

Are you missing a W2, 1099 or other tax form?

If you don’t receive a W-2 or 1099, is this a defense to protect yourself from not reporting the income during an audit?

In short, the answer is no. You are required to report your income whether your employer or customer filed the correct form or not. So what can you do to ensure you do not find an audit surprise in your future due to a simple omission of income from a report you did not receive? Here are some tips:

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