Update on Affordable Care Act IRS tax filing requirement for employees completing 2016 returns

February 2, 2016 | UToday
By Jon Strunk

On Tuesday, Jan. 12, the Internal Revenue Service issued an update extending the information reporting due dates for the Affordable Care Act IRS tax filing requirement. The deadline for distributing Form 1095-C to employees has been moved from Monday, Feb. 1, to Thursday, March 31.

Employers subject to the Affordable Care Act’s 2015 information reporting requirements now have extra time to distribute forms to employees and to file them with the IRS.

As announced in UT News in December, Form 1095-C confirms to the Internal Revenue Service that employees and their family members had qualifying health coverage during the year.

Form 1095-C will be distributed to all eligible employees who either had health coverage with UT for at least one month during 2015 or were offered coverage with UT during 2015 but declined. Employees who were not eligible and did not receive health coverage will not receive Form 1095-C.

“Even if your spouse or friends have a different form, the 1095-C Form is the one you will receive from The University of Toledo,” said Jovita Thomas-Williams, vice president and chief human resources officer.

“This is not a University of Toledo change; it is a change for all employers in the country who offer health insurance as required by the Affordable Care Act,” Thomas-Williams said. “Since this will be new to UT employees, we want to be sure we are communicating clearly about the change.”

Employees should expect to receive Form 1095-C no later than March 31, but do not need to wait for this form to file tax returns. Employees with full health-care coverage for the 2015 tax year will simply check the appropriate box on the IRS document used for their tax filing. After receiving Form 1095-C, these employees will need to verify information contained on Form 1095-C with what was designated on their tax return.

If Form 1095-C is consistent with what was reflected on their tax filings, employees should keep Form 1095-C for their records. If Form 1095-C is not consistent, employees should contact the UT Benefits Department. Employees with questions about their tax return or how to use Form 1095-C information on their tax return should consult with their tax adviser.

Employees who choose to file their returns prior to receiving Form 1095-C but who did not have full health-care coverage for the 2015 tax year should consider speaking with their tax adviser on how to reflect the information on their tax filing.

UT Human Resources and Talent Development will continue to spread the word about the 1095-C Form and its distribution to employees over the next several weeks.

Employees with questions about Form 1095-C should contact Human Resources and Talent Development at benefits@utoledo.edu.

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