January 19, 2016 ALL

Year End Tax Forms-W2/1095-C

W-2’s have been mailed today. You can expect to receive your W-2 within the next few days. Electronic W-2’s will NOT be available through Banner Self Service. If you need a replacement W-2 from this year or a prior year, please contact payroll at ext: 4456, or ext: 4457.

A few weeks ago, full-time benefit-eligible employees were notified that they would also be receiving the new form 1095-C “Employer-Provided Health Insurance Offer and Coverage” at calendar year end. Because of the difficulty to gather the data needed for this form, the IRS has revised the deadline for employers to mail this form to March 31, 2016. It is our intention to mail this form to JCU employees as soon as possible, and well in advance of the March 31 deadline. Per the IRS, It is not necessary to wait for your 1095-C to file a tax return for 2016, and this form does not need to be attached to your return. You will use the information on this form to verify that you, your spouse and any dependents had coverage for each month during the year. If you and your family members had minimum essential coverage for every month of the year, you will check a box on your return to report that coverage. If there are months when you or your family members did not have coverage, you will determine if you qualify for an exemption or must make an individual shared responsibility payment.

For a further explanation of this tax form please refer to the HR website: http://sites.jcu.edu/hr/2015/12/01/important-new-tax-reporting-requirement-under-the-affordable-care-act-aca/.

Or to the IRS website: https://www.irs.gov/Affordable-Care-Act/Questions-and-Answers-about-Health-Care-Information-Forms-for-Individuals.