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Video instructions and help with filling out and completing Can Form 1094 B Designated

Instructions and Help about Can Form 1094 B Designated

Hello this video is about filing forms 1095 B and 1094 B I will cover the following topics in this video key points of form 1095 be a walkthrough of each of the four parts of form 1095 B and a review of the fields on Form 1094 be one of the provisions of the Affordable Care Act is the individual mandate which serves as the basis for form 1095 be reporting the individual mandate states that each individual must have minimum essential coverage for each month or qualify for an exemption or pay a penalty this penalty is called the individual's shared responsibility payment form 1095 B is an information return filed by healthcare insurers and self-insuring employers with less than 50 full-time equivalent employees the purpose of this form is to allow tax payers to establish an IRS to verify the taxpayers recovered by minimum essential coverage form 1094 B is the transmittal that is used to summarize the total number of 1095 B's sent to the IRS in one batch let's get started reviewing each part of form 1095 B part 1 reports information about the responsible individual the responsible individual is the tax payer who would be liable for the individual shared responsibility payment for the covered individuals in line 1 you enter the name of this taxpayer line 2 should include the responsible individuals social security number or taxpayer identification number enter the responsible individuals date of birth in line 3 only in the case where line 2 is blank lines 4 through 7 should include the responsible individuals address line 9 which is the small business health options program marketplace identifier should be left blank for 2023 let's go back to line 8 now enter the origin of policy in line 8 there are...