Thank you for pointing this out! I did take my employer's insurance and have been covered all year through them. I definitely checked the box on my return saying I had coverage for all 12 months. So it sounds like I'm ok from what everyone is saying?

Yes, you're fine then! If you had employer coverage all year and indicated that on your return, the 1095-C is just documentation for your records. You don't need to amend your return or do anything else. The IRS already gets this information reported to them directly from your employer. Just keep the form with your tax records in case there are ever any questions, but you're all set!

100% agree. My 1095-B comes late EVERY year. I think employers have until March to send them out, but W-2s have to be out by January 31. The deadlines don't make any sense when tax filing starts in late January!

Thanks for confirming I'm not the only one! It's so frustrating. You'd think after all these years they'd figure out how to align these deadlines better. I always end up having to decide whether to file early and get my refund sooner, or wait for all my forms and risk delaying my refund.

6 I actually did this last year! The key was framing it as a win-win for both the company and employees. I put together a one-page document showing how much FICA tax the COMPANY was paying unnecessarily by including per diem in taxable wages (they pay 7.65% matching on all those per diem amounts!). Then I showed how employees were getting hit with income tax on top of that. I brought it to our finance director rather than HR, since it was ultimately a money issue for the company. When they realized they could save thousands in payroll taxes company-wide by switching to an accountable plan, they made the change within a month!

Thank you for mentioning this! I wasn't aware that the collection statute gets suspended during OIC consideration. Do you know if the CNC status means they can still put liens on her property? She doesn't own a house, but does have a car that's paid off. And approximately how long does the OIC process usually take from start to finish?

Yes, the IRS can (and often does) file tax liens even when you're in CNC status. The lien protects their interest in your assets even though they're not actively collecting. For a car, they typically won't seize it if it's of modest value and needed for work/medical appointments, but the lien would come into play if she tried to sell it. The OIC process typically takes 6-9 months from submission to decision, sometimes longer if there are complications or if the IRS requests additional information. During this entire time, the collection statute is paused. If the offer is rejected and you appeal, that extends the timeline and suspension even further. This is why it's important to weigh whether an OIC makes sense versus waiting out the collection statute in CNC status, especially if your sister-in-law has limited income or assets that would make collection unlikely anyway.

Did you do the OIC yourself or hire someone? And did you end up having to give up the Netflix? I'm just curious how detailed they get...seems super invasive. Good to know about the payment thing tho.

Oh no, I didn't even think about reporting my Japanese bank accounts! I had about $15,000 in my account before I moved everything to the US. Is there a deadline for filing this FBAR form? Is it the same as the tax return deadline?

The FBAR deadline is April 15, but it automatically gets extended to October 15 if you miss the April deadline. You don't need to request the extension specifically for the FBAR. The form is filed electronically through the Financial Crimes Enforcement Network's BSA E-Filing System, not with your tax return. It's fairly straightforward - you just need to provide information about each account, including the maximum value during the year, account number, and the financial institution's information.

Adding to this - I had the same experience but also found that e-filing with the Foreign Tax Credit form went much smoother than paper filing. Paper filing with international forms seems to trigger more manual reviews and longer delays.

File early!!! Especially if you're expecting a refund. The sooner you file, the sooner you get your money back. Also, identity theft is a real problem - if someone gets your SSN they can file a fake return in your name and steal your refund. Filing early prevents this. Filing early also gives you more time to correct any mistakes if something goes wrong. Last year I waited till the last minute and realized I was missing a form, had to file an extension and it was a whole mess.

This is what I did! Our business school had accounting students doing this as part of their practical experience. They were super thorough and even found a credit I didn't know about. Definitely worth checking if your school offers this!

This is a great suggestion! I'll check with our business school to see if they offer this. Having someone walk me through it the first time would be really helpful. Thanks for the tip!