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Extension for Form 1095 Reporting What everyone needs to know
Many more taxpayers will see Form 1095’s this year. These forms are required to prove you have had health insurance coverage for the year. Due to the vast amount of work required to create this form, the IRS is granting a delay in getting versions of this form to taxpayers. Here is what you should know For 2015 tax returns, everyone employed by a company with 50 or more employees will receive a new Form 1095. This form is in addition to the Form 1095’s received by other taxpayers using the Marketplace to purchase their health insurance. You need this
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2014 Health Savings Account Limits Announced
If you are participating in an HSA, recently announce limits for 2014 will help you get a jump on planning for next year. The savings limits for the ever-popular Health Savings Accounts (HSA) are now set for 2014. The new limits are outlined here with current year amounts noted for comparison purposes. What is an HSA? An HSA is a tax advantaged savings account where part of your wages can be contributed on a pre-tax basis. There is no tax on the funds contributed or the interest or investment earnings as long as the funds are used to pay for
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