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

Instructions and Help about Can Form 1094 B Provider

Hello, everyone. My name is Angela, and I am a tax professional. I have been in this field for a very long time. I have recorded a HELP video series that covers various tax topics for individuals who may have tax issues or general questions. This particular video is part 2 of the video I recorded on February 11th, 2015, regarding the ACA, also known as Obamacare, tax filing requirements. In the previous video, I provided information geared towards recipients of coverage and forms. However, in this video, I will be covering forms and requirements for employers and other providers outside of the marketplace. Before we dive into the content, let me recap the forms I mentioned in the previous video. The forms discussed were the 1095-A, which is the health insurance marketplace statement form, the 8962, which is the premium tax credit form, and the 8965, which is the form used to report healthcare exemptions. Moving on to this video, the focus will now shift towards employers who provide health insurance coverage and providers outside of the marketplace who offer coverage. The forms needed for compliance in these cases include the 1094-B, which is the transmittal of health coverage information returns, and the 1095-B, which is the health coverage verification form. Additionally, there is the 1095-C, which is the employer-provided health insurance offer and coverage form. Instructions for these forms can provide more detailed information. Regarding the purpose of forms 1094-B and 1095-C, they are used to transmit information to the IRS and taxpayers about individuals who are covered by minimum essential coverage and are not liable for the individual shared responsibility payment. Minimum essential coverage includes government-sponsored programs, eligible employer-sponsored plans, individual market plans, and other designated coverage determined by the Department of Health and Human Services. Anyone providing minimum essential coverage to an...