Posts tagged Form 1095-B.
Since 2015, employers and health insurers have been required to report health plan coverage information to the IRS and to individuals. Why? The information is necessary in order for the IRS to administer certain portions of the Affordable Care Act (“ACA”), such as whether (1) a “pay or play” penalty is assessable for noncompliance with the coverage requirements, (2) an individual is eligible for a premium tax subsidy, and (3) the individual mandate penalty is assessable.
Recently issued Notice 2019-63 contains three gifts from the IRS in the form of limited relief to ...
Posted in: Federal Tax, Nonprofit Organizations and Benefit Plans