The IRS reminds taxpayers who received advance payments of the premium tax credit that they should file their tax return timely to ensure they can receive advance payments next year from their Marketplace. Failing to file tax returns will prevent advance payments in the next year You can use either the information from your online account, if it is available, or the Form 1095-A that is mailed to you to complete your tax return. Visit your Marketplace’s website to find out the steps you need to follow to get a copy of your Form 1095-A online. If you purchased coverage through the federally facilitated Marketplace and you set-up a account, you can get a copy of Form 1095-A, Health Insurance Marketplace Statement online from your account. See below for more information regarding the effect of failing to reconcile advance payments of the premium tax credit. Filing your return without reconciling your advance payments will delay your refund and may affect future advance credit payments. Even if you did not choose to receive advance payments, you must file a federal income tax return to claim the premium tax credit. You are required to reconcile - or compare - these payments to the premium tax credit you’ll compute for your tax return. If you chose to have advance payments of the premium tax credit paid directly to your insurance company, you must complete Form 8962, Premium Tax Credit and file a federal income tax return, even if you are otherwise not required to file. If you received a Form 1095-A with incorrect information, see our Corrected, Incorrect or Voided Forms 1095-A questions and answers to find out how it affects your taxes. It lists the amount of premium assistance you received in the form of advance payments of the premium tax credit that were paid directly to your insurance company, if any. Among other things, Form 1095-A reports the total monthly health insurance premiums paid to the insurance company you selected through the Marketplace. If Form 1095-A shows coverage for you and everyone in your family for the entire year, check the full-year coverage box on your tax return. The information shown on Form 1095-A helps you complete your federal individual income tax return. If you purchased health care insurance through the Marketplace, you should receive a Form 1095-A, Health Insurance Marketplace Statement, at the beginning of the tax filing season. This is known as the "reasonable opportunity period" and it will enable people to obtain coverage while gathering and submitting their paperwork.Health care insurance purchased through the Marketplace Under federal rules, US citizens and eligible immigrants whose status cannot be verified right away via an electronic data match must be enrolled in the appropriate coverage and allowed 90 days to submit paper documentation of their US citizenship or eligible immigration status. Now there is finally a checkbox on the documents screen for someone in this situation. In the past, an applicant could not continue past this screen without calling customer service and being instructed in the "workaround" that enabled them to get to the next screen, identify their status, and see the message informing them to submit paper documentation. It will now make the application easier to complete for someone who is a US citizen or an eligible immigrant but does not have one of the documents listed on the screen. There has been an upgrade to the computer eligibility system used to process MassHealth and Health Connector applications.
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