[Mveca_usps] new 2015 tax requirements for ACA

[Deb Dinnen]

Hello (again)!

Last week at our session with American Fidelity on Affordable Care Act regulations, we learned of a reporting requirement for 2015 taxes.  This requirement was scheduled for 2014; but, was deferred to 2015. The Feds are relying on self-reported information for Premium Tax Credits in 2014 and the individual coverage mandate requirement.  Employers ARE required to provide these reports to each covered employee and covered dependents for 2015 in January, 2016.  Attached please find draft versions of form 1094C and 1095C.  I wanted to bring this to your attention now as you may need to gather information to complete these forms.  This information is not currently captured in USPS. You may have it in other databases (like Benelogic).  For instance, you will need the SSN of all covered members.  The draft 1095C form asks for monthly information.  You may want to create a spreadsheet now regarding who is covered monthly.  I have not heard of any development in state software to add the needed fields or provide an export to complete this new form.   I have asked if there is development along these lines.  I will keep you posted.

We have had districts report that tax preparers are asking clients for this form for 2014.   If you are asked to provide it; let them know it's not required until next year.



Debra M Dinnen
MVECA
Financial Software Specialist
937-767-1468 x3113
dinnen at mveca.org<mailto:dinnen at mveca.org>
[MVECA New logo]

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