Tax news, personal finance, and more!
With the upcoming tax season, here are the tax changes for the 2021 tax season.
First, these scammers attempt to impersonate IRS agents or organizations affiliated with the IRS, debt collectors, other government employees, and even the police. Once they get a hold of your personal information, they move onto another victim.
Here’s how to spot a fraudulent phone call and how to report it to the real IRS.
There are new tax forms that you should keep your eyes peeled for this year. These are the 1095-A, 1095-B and 1095-C. No need to panic. These forms are mainly for your reference and can be stowed away with the rest of your tax documents until you’re ready to file a tax return for the year. So why are they making a debut in a mailbox near you? Let’s take a look at what they are and how to handle them.
A 1095-A is your Health Insurance Marketplace statement. This provides you with the annual information about your health coverage if you or someone in your family was enrolled in coverage through the Health Insurance Marketplace.
A 1095-B is your Health Coverage statement. This shows you the yearly information about your health care coverage if you, your spouse or your dependents were enrolled in coverage through an insurance provider or self-insured employer.
A 1095-C is your Employer-Provided Health Insurance Offer & Coverage statement. This form will provide you with the yearly coverage offered to you through your employer.
You’ll receive a 1095-A if you, your spouse or your dependent(s) were enrolled in health coverage for the year through the Marketplace.
A 1095-B will be coming your way if you and/or your family members received insurance through a health insurance provider. Health insurance providers consist of insurance companies, certain self-insured employers and government agencies that run Medicaid, Medicare or the Children’s Health Insurance Program (CHIP). Continue reading “What to do with a 1095-A, 1095-B and 1095-C”
