Our network

Commentary

Employers and Coverage Providers: 11 Facts About Health Care Information Forms

Under the Affordable Care Act, insurance companies, self-insured companies, and large businesses and businesses that provide health insurance to their employees must submit information returns to the IRS and individuals reporting on health coverage. 

Taxpayers can use the information on these forms when they file their tax returns to verify the months that they had minimum essential coverage and determine if they satisfied the individual shared responsibility provision of the health care law. The IRS will use the information on the statements to verify the months of the individual’s coverage.

Here is some information about the types of forms, the purpose of each, and noteworthy dates

Form 1095-C, Employer-Provided Health Insurance Offer and Coverage

Safeguarding Taxpayer Data – How to Get Started

Tax professionals must safeguard taxpayer data by law. It is also critical to tax preparers’ business success. Protect your clients and yourself by taking a few common sense steps.

You can seek advice from security consultants or insurance companies. IRS Publication 4557, Safeguarding Taxpayer Data, also offers tips on how to get started.

These best practices include:

IRS Offers Tips on Validating Your Identity on Your Tax Return

You should always keep a copy of your tax return. It is even more important for 2017, as the Internal Revenue Service moves to strengthen its e-signature validation process.

You must use your 2015 adjusted gross income or your 2015 self-select PIN to validate your identity on your federal electronic tax return this tax season. The electronic filing PIN is no longer available as an option.

The IRS, state tax agencies and the nation’s tax industry – partners in combating identity theft -ask for your help in their efforts. Working in partnership with you, we can make a difference.

That’s why we launched a public awareness campaign that we call “Taxes. Security. Together.” We’ve also launched a series of security awareness tips that can help protect you from cybercriminals.

Safeguarding Taxpayer Data – Avoid Scams

Tax return preparers should beware of various ruses and schemes used by cybercriminals. These scams allow criminals to gain access to passwords or computer systems which allows them to steal taxpayer data. Many schemes are currently making the rounds.

Protect your clients and yourself from these ongoing and increasingly sophisticated efforts to steal data.

How serious is this threat? Here are a few examples of criminal scams and schemes intent on stealing your information from just the past few months:

IRS Strengthens Web Tool Access, Offers Tips for Use

As part of a wider effort to protect taxpayers, the Internal Revenue Service took steps this year to strengthen access to several IRS.gov applications, including adding requirements for the use of security codes texted to mobile phones to access certain tools.

This security code process is part of a two-factor or two-step authentication process that is becoming increasingly commonplace, especially in the social media, financial and tax areas. The two steps to access accounts are your credentials (username and password) plus a security code often sent as a text.

The IRS, state tax agencies and the nation’s tax industry – partners in combating identity theft - ask for your help in their efforts. Working in partnership with you, we can make a difference.

That’s why we launched a public awareness campaign that we call “Taxes. Security. Together.” We’ve also launched a series of security awareness tips that can help protect you from cybercriminals.

This Day in History:

This Day in History:

Birthdays:

1974: Carl Powell, defensive end for the Indianapolis Colts

1973: Lamont Warren, NFL running back for the Indianapolis Colts

1973, Ray Mickens, Cornerback for the New York Jets

1971: Garrison Hearst, NFL running back, Arizona Cardinals, San Francisco 49ers

1966: Deana Carter, born in Nashville, Texas, Deana Kay Carter, country singer, famous for multi-platinum debut album 'Did I Shave My Legs for This?', albums include fourteen singles, three reached number one on the Billboard country charts, including 'Strawberry Wine'

1965: Guy Forget, born in Casablanca, Morocco, professional tennis player, helped France with the 1991 and 1996 Davis Cup, served as France's Favid Cup team captain

1957: Patty Loveless, Ramey, Pikeville, Kentucky, singer, Blue Side of Town

 

Famous Deaths:

1998: Mae Questel, actress, voice of Betty Boop, dies at 89

1986: Phil Lynott, rocker (Thin Lizzy), dies of overdose at 34

Time Capsule: What were we interested in October of 2006

Time Capsule: What were we interested in October of 2006

Our Past: Approximately 10 years ago.

During the week of Monday October 9, 2006

We were reading about political independent Jack Davis, for Congress vs. Rep. Thomas M. Reynolds of Clarance. Buffalo News states in a headline “Candidates promise to cut taxes, reduce energy costs”.

John Faso and Elliot Spitzer debated about spoke about reigniting upstate economies.

The Headlines of the day included; the House Sex Scandal; Saddam Trial; Edmnd S. Phelps accepted a Nobel Prize for his study on inflation and it’s link to unemployment.

Once again, we look to Bob DiCesare ( Buffalo News) for the “Three Question Survey” for hiring Buffalo Bills coaches.

Sen. Chuck E. Schumer forms a coalition to develop a new revenue sharing plan.

Logging stopped on Erie County Land.

Captain Elwin T Parsell, 39 Collins Vol. Fire Co and BFD Firefighter Christopher W. Dill Engine 21 are remembered in Albany,