IRS & Obamacare

[GunnyGene]

Just a reminder for y'all old retired military folks:

Don't forget to send in your Form 1095-B if you're on Tricare. :roll:

 

[Rick Courtright]

Hi,

Gunny, you don't send the 1095-B form in. It gives info to back up the taxpayer's claim of coverage, and should be kept with one's records. IRS already has a copy, BTW.

From IRS instructions:

This form provides information about your health coverage.

Use Form 1095-B for information on whether you and your family members had health coverage that satisfies the individual shared responsibility provision.

If Form 1095-B shows coverage for you and everyone in your family for the entire year, check the full-year coverage box on your tax return.
If there are months when you or your family members did not have coverage, determine if you qualify for an exemption or must make an individual shared responsibility payment.

Do not attach Form 1095-B to your tax return - keep it with your tax records.

https://www.irs.gov/Affordable-Care-Act/Questions-and-Answers-about-Health-Care-Information-Forms-for-Individuals

There's a lot of confusion out there as to what to do with the 1095-B and 1095-C forms which are new this year, but this is the latest info from IRS as of 2-23-16. Considering who we're dealing with, things could be different tomorrow!

Rick C

 

[graygun]

I got one last month in the mail...tks Gunny and RC for pertinent info.

 

[GunnyGene]

Hi,

Gunny, you don't send the 1095-B form in. It gives info to back up the taxpayer's claim of coverage, and should be kept with one's records. IRS already has a copy, BTW.

From IRS instructions:

This form provides information about your health coverage.

Use Form 1095-B for information on whether you and your family members had health coverage that satisfies the individual shared responsibility provision.

If Form 1095-B shows coverage for you and everyone in your family for the entire year, check the full-year coverage box on your tax return.
If there are months when you or your family members did not have coverage, determine if you qualify for an exemption or must make an individual shared responsibility payment.

Do not attach Form 1095-B to your tax return - keep it with your tax records.

https://www.irs.gov/Affordable-Care-Act/Questions-and-Answers-about-Health-Care-Information-Forms-for-Individuals

There's a lot of confusion out there as to what to do with the 1095-B and 1095-C forms which are new this year, but this is the latest info from IRS as of 2-23-16. Considering who we're dealing with, things could be different tomorrow!

Rick C

Ok, thanks. The email I got from DFAS said I had to send it in. If the Black Helo's land on my front yard I'll refer them to you. :wink: :mrgreen:

 

[Ruger1441]

:? The IRS extended the deadline for filing the 1095's so many tax return will be filed before the 1095's are even issued. Your govt dollars at work

 

[Ruger1441]

:evil: Just as a side note customer service has gone to crap at the IRS. They are saying the cause is Obama care and the amount of additional work that it has made for the IRS. What ever the cause the service is terrible.

 

[Ordguy]

The 1095-B is a download/printable document in your account on the MyPay website.

No need to include it with mailed tax forms; if you file via the internet you can't anyway.

My postal service is very unreliable so I check my info online and print documents from there when needed.

 

[Don Lovel]

I think every American should tell the IRS, "wet a vertical rope with urine". Until Lois Learner and her henchmen are prosecuted, IRS does not get a penny of tax revenue.

 

[powder smoke]

Should be abolished something installed that makes sense.
maybe a national sales tax or something. Too many rules
loopholes etc. ps

 

[DGW1949]

I use Turbo Tax, print out a copy of the return for myself, and send it electronically.
That way, I've got a hard copy of the return I sent and all the relevant forms stay with me. Then I clip it all together and file it away by year, in case I get audited later.

Works for me.

DGW

 

[ilikerams]

We just got our 1095-b this week.
Guess it must be that "paperwork reduction act thing" they brought out a few years ago.

 

[RSIno1]

I can't wait until they start to tax the $20,000+ my company paid for my insurance as income.

 

[speedsixman]

Thanks for the info !
I just got one in the mail yesterday and wondered what the he// it was.

Myron