Mastering Form 1095-B: The Essential Guide


What is Form 1095-B? Form 1095-B, Health Coverage, is used to report information regarding individuals who are covered by minimum essential coverage (MEC) to the IRS. Eligibility for certain types of coverage can affect a taxpayer’s eligibility for the premium tax credit. This type of filing is typically completed by insurance companies and other coverage … Read more

Mastering Form 1095-C: The Essential Guide

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What is Form 1095-C? This form provides information regarding health coverage offered by an employer for each employee to both the IRS and the employees. For employers, this form combined with Form 1094-C is used to determine whether an Applicable Large Employer (ALE) owes an employer shared responsibility provision (ESRP) payment under IRS section 4980H. … Read more

Mastering Form 1094-B: The Essential Guide


What is Form 1094-B? Form 1094-B, Transmittal of Health Coverage Information Returns is the transmittal form that must be filed to the IRS along with Forms 1095-B. It is used as a cover sheet and summary of the information being filed. Together, these forms are used to report health coverage information to the IRS. What … Read more

Mastering Form 1099-DIV: The Essential Guide


What is Form 1099-DIV? This form is used by banks and other financial institutions to report dividend income and other distributions such as from stock or capital gains. They are completed for each person who has been paid dividends and other distributions on stock of $10 or more. There are some other circumstances when someone … Read more

Mastering Form 1099-NEC: The Essential Guide


What is Form 1099-NEC? This form is used to report nonemployee compensation amounts to the IRS. A nonemployee is defined as a person or business who is not employed by your company, such as independent contractors, freelancers, or outsourcing companies. Learn more about determining who should receive a Form 1099-NEC by navigating to our article … Read more