IRS Issues Q & A’s on Reporting

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With the new Forms 1095-B and 1095-C set to be sent out for the first time in early 2016, the Internal Revenue Service recently issued a set of Q & A’s to help explain why individuals are receiving the forms and what they should do with them.  The Question and Answers about Health Care Information Forms for Individuals outlines the differences between Forms 1095-A, 1095-B and 1095-C, how individuals may use the forms to complete their tax returns and who to contact should they have questions about the forms they’ve received.  These Q & A’s are a good resource for both employees and employers who may have some practical questions about the forms and how they’ll be used.