Thursday, February 4, 2016

Affordable Care Act: It's a Tax Matter

The Postal Service is mailing employees an important tax document they may need when completing their 2015 federal income tax returns.
Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, is a new IRS form created to fulfill the reporting requirements of the Affordable Care Act (ACA).
Beginning with tax year 2015, the ACA requires the Postal Service to provide an annual statement — Form 1095-C — to employees who are offered health insurance coverage during the year.
When employees receive Form 1095-C in the mail, they should keep it with their Form W-2 and other wage and tax information documents.
Employees who have questions should consult a qualified tax preparer or tax attorney.
Additional information is available on the IRS site, as well as the Frequently Asked Questions document available through the PostalEase application on LiteBlue and the Form 1095-C toolkit on the Accounting site.

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