No, that’s not a typo. And no, you haven’t been transported back to the 11th century. We’re talking about the season’s hottest tax form: the 1095.
Haven’t heard of it? Obviously you missed Barbara Walters’ “Most Fascinating Tax Forms of the Year” special. This form is generating more buzz than Adele.
Here’s the scoop: The 1095 is a required document under the Affordable Care Act (ACA). People will use it to show the government that they’ve met their obligation to have health insurance. Kind of like a W-2 form, but about health coverage.
You may already be communicating to employees about the 1095-C Form that’s headed their way early this year. If you haven’t gotten the word out to your teams, there’s still time. (In fact, thanks to Notice 2016-4 that the IRS just released, you and your employees can even get extra time to deal with the 1095.)
First, learn more about what the 1095 is by reviewing the frightfully fun blog we posted about the 1095 last October. Then, learn five quick and easy ways to communicate about the 1095-C. Even better, check out our life-saving 1095-C Toolkit. It’s a unique and comprehensive communications toolkit that guides your team and your employees through the complexities of the 1095-C.
Now that you’re up on the 1095, you can get down to having a very happy 2016!