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.
If you recently purchased U.S. savings bonds and wish to know how you must report the interest income on those bonds...
If you use the cash method of accounting, as most individual taxpayers do, you generally report the interest on U.S. savings bonds when you receive it. However, you report the interest on series EE, series E, and series I bonds in either of the following ways:
A Tip on Tip Reporting If you are like millions of taxpayers in the service industry, you may receive tips. The tax code is clear; if you receive tips you must report them as income. Some employers have systems to make this easy, while others do not. Here are some suggestions: