What is IRS Form 1099-H?
IRS form 1099-H is a Health Coverage tax credit Advance Payment. It is filed in three copies one for IRS, one for recipient and one for the payer. This form is filed by a provider of qualified health insurance coverage , a business owner when they receive a advance payment in regard with health from the department of treasury for a eligible individual. The payer has to give the advance details to the recipient.The IRS charges penalties if the form is not filed. There are some waive to the penalties provided the payer gives the explanation of not filing.
