§ 6050Q. Certain long-term care benefits

• (a) Any person who pays long-term care benefits shall make a return, according to the forms or regulations prescribed by the Secretary, setting forth—
  • (1) the aggregate amount of such benefits paid by such person to any individual during any calendar year,
  • (2) whether or not such benefits are paid in whole or in part on a per diem or other periodic basis without regard to the expenses incurred during the period to which the payments relate,
  • (3) the name, address, and TIN of such individual, and
  • (4) the name, address, and TIN of the chronically ill or terminally ill individual on account of whose condition such benefits are paid.
• (b) Every person required to make a return under subsection (a) shall furnish to each individual whose name is required to be set forth in such return a written statement showing—
  • (1) the name, address, and phone number of the information contact of the person making the payments, and
  • (2) the aggregate amount of long-term care benefits paid to the individual which are required to be shown on such return.
• (c) For purposes of this section, the term “long-term care benefit” means—
  • (1) any payment under a product which is advertised, marketed, or offered as long-term care insurance, and
  • (2) any payment which is excludable from gross income by reason of section 101(g).