2015 health insurance requirement

[taxea]

I took a similar webinar this morning. the issue deadline is 1/31/2016 for the 2015 tax year and 02/28/2017 for TY 2016.
1095A is issued by Exchange/Medicare/Medicaid and other govt programs
1095B is issued by Insurance companies you need it to determine coverage
1095C is issued by employer-must issue whether or not they provide insurance

It is recommended by the seminar that you keep a copy or be sure you have a document that proves coverage. I am going to require it.

[TaxGuyBill]

Just be aware. An automatic extension of 30 days to mail these forms can be obtained by filing a Form 8809. Many taxpayers may not have them on January 31.

Form 8809 is to extend the filing of the transmittal forms to the IRS. The statements to the taxpayers are still due January 31st. There is an option to manually write to the IRS for an extension for this, but it is not automatically approved.

[New York Enrolled Agent]

They must be mailed to the individual by January 31st, not the end of February. The transmittal form (1094) needs to be filed with the IRS by the end of February (end of March if e-filing). In other words, it's the same due dates as the W-2/W-3 and 1099/1096.

Just be aware. An automatic extension of 30 days to mail these forms can be obtained by filing a Form 8809. Many taxpayers may not have them on January 31.

[kathyc2]

I may let a few clients slide without the actual form that I know very well, but for the most part I'm going to require the form.

Also, there will likely be a lot of situations where the parent claiming the child is not a parent that provides insurance. In that case, I'm going to be asking client claiming to get copy of the 1095 from ex.

I'll be putting in all in annual letter, so they know to bring the docs to appointment.

[TaxGuyBill]

They must be mailed to the individual by January 31st, not the end of February. The transmittal form (1094) needs to be filed with the IRS by the end of February (end of March if e-filing). In other words, it's the same due dates as the W-2/W-3 and 1099/1096.

Although the 1095-A from the Marketplace does need to be entered, I see no reason why the 1095-B or 1095-C would need to be entered into our software. However, we may want to require to see it as part of our 'due diligence' for preparing the return. Because it has the same due dates as the W-2 and 1099s, it shouldn't be a major problem to need to see the 1095.

[perry]

In seminar I took last week instructor stated that in 2015 taxpayers that have health insurance cannot file their return until they get the 1095 form from insurance company or MN Sure. She also stated that insurance companies have until end of February 2016 to get 1095 forms out. I am taking other continuing education but that is on line so no questions can be asked. Last year we could take clients word that they had health insurance and file return. Was wondering if this is a new requirement for this year or just the presenters interpretation, etc. I do not have my software yet so perhaps there is info that has to be entered from Form 1095 before we can efile, not sure. Just wondering what others have found out at their seminars, etc.