Oregonians will receive two new tax forms this year, according to The Bulletin.
Here are five insights:
1. Health insurance providers and small businesses will distribute form 1095-B to those consumers they covered, and employers with 50 or more employees will send out form 1095-C to those consumers they covered.
2. The Internal Revenue Service extended the deadline for employers and carriers to distribute the new forms from Feb. 1 to March 31. This complicates matters as the tax filing deadline is April 18.
3. The IRS will allow consumers to file their taxes without the new forms because of the short turnaround time between deadlines. However, some tax consultants are wary of filing without the new forms.
4. Many tax consultants are confused about whether the government will pair the 1095 forms with peoples' tax returns to ascertain whether a penalty for lack of insurance applies.
5. Of Oregonians, 710,000 will receive the new forms for their self-insured employer plans, 581,000 will receive the new forms under their large employer plans and 158,000 will receive the forms under their small employer plans. The one million people that Oregon Health Plan covers will also receive the new forms.