IRS Healthcare Forms for Filing Taxes

Statements are on the way from employers, banks, stockbrokers and other institutions and agencies that were involved in taxpayers’ financial lives last year.

Each of these groups has, by law, until Jan. 31 (or the next business day when that date falls on a holiday or a weekend) to get their annual tax statements in the mail to you. Since the last day of January is on a Sunday this year, the deadline slips to Monday, Feb. 1.

Many taxpayers now receive these documents electronically. So be sure to double-check your email, not just the curbside mailbox, for these statements.

More health care statements

If you or someone in your family had health coverage in 2015, you will get a 1095 form. There are 3 versions.

Form 1095-A — If you, your spouse or a dependent enrolled in health insurance through a state or federal exchange, also referred to as the marketplace, you should receive Form 1095-A, Health Insurance Marketplace Statement. The information on this new form is needed to complete Form 8962 and calculate your correct premium tax credit amount.

Only individuals who bought medical insurance through the marketplace will receive this new form. If you do not get your Form 1095-A, contact the marketplace from which you purchased your coverage.

Form 1095-B — This form confirms that you, your spouse (if you file a joint return) and your dependents had at least minimum qualifying health insurance coverage for some or all months of the prior tax year. Form 1095-B is sent by your health care insurer and/or your employer if the company has fewer than 50 full-time employees. Individuals who don’t have minimum essential coverage may have to make an individual shared responsibility payment.

Form 1095-C — This form is the version used by large employers to notify employees that they, their spouses (if filing jointly) and dependents had minimum essential coverage for all or part of the prior tax year. This verification will help taxpayers avoid the penalty for not having coverage, known as the shared responsibility payment.
Read more: http://www.bankrate.com/finance/taxes/your-tax-documents-are-in-the-mail-1.aspx#ixzz3zDNWV4EI

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