Form 1095-C: Employer Health Insurance Offer and Coverage is a tax form with information about employee health insurance offered by the eligible Large Employer (ALE).
Applicable Large Employers (ALEs) typically have 50 or more full-time employees.
the taxpayer does not fill out the form and does not submit it with the tax return; employers must keep the form along with their records.
The information on this form also helps determine a taxpayer’s eligibility for benefits, such as a tax credit.
The Premium Tax Credit is a refundable tax credit paid by the IRS to eligible individuals and families who purchased health insurance through the Health Insurance Marketplace in the tax year.
Form 706 is used by the executor of a deceased person to calculate inheritance tax owed under Chapter 11 of the Internal Revenue Code (IRC) and to calculate Generation Pass Transfer Tax (GSTT) under Chapter 13 of the IRC. .
A limited liability company (LLC) is a corporate structure that protects its owners from personal harassment for paying off debts or obligations of the company.
A limited partnership (LP) exists when two or more partners start a business together, but the limited partners are only liable up to the amount of their investment.
Substantial participation tests help determine whether a taxpayer has been materially involved in a business, lease, or other income-generating activity.