Frequently-asked questions by tag

IRS

Baloon being blown up saying the size of your tax credit depends upon your income in the year you receive a premium subsidy

What happens if my income changes and my premium subsidy is too big? Will I have to repay it?

October 15, 2019 – If recipients end up earning more than anticipated, they could have to pay back some of the subsidy. This can catch people off guard,… Read more

Although there is no longer a federal tax penalty for being uninsured, some states have created their own penalties with enforcement mechanisms that largely mirror the federal rules that applied through 2018.

Is it true that the government can’t really enforce the penalty for not having health insurance?

September 12, 2019 – Although there is no longer a federal tax penalty for being uninsured, some states have created their own penalties with enforcement… Read more

A girl with a puzzled look on her face wondering how much the IRS will charge her for health insurance

Is the IRS changing how much I’ll have to pay for my health insurance next year?

August 14, 2019 – Q. I saw that the percentage of income I have to pay for my health insurance is lower for 2020, after decreasing for 2018 and then… Read more

iPad searching for 1095 tax form

Where do I find my 1095 tax form?

April 4, 2019 – Q: What are the tax forms associated with health insurance, and where do I get them? A: There are three different forms that are used by… Read more

Is the Obamacare individual mandate just based on the honor system?

Is the Obamacare individual mandate just based on the honor system?

January 19, 2019 – Q. Is the Obamacare individual mandate just based on the honor system? A: In some ways, yes. But although the individual mandate penalty… Read more

If I decline my employer-sponsored plan and try to get a subsidized exchange plan, will the IRS know?

If I decline my employer-sponsored plan and try to get a subsidized exchange plan, will the IRS know?

December 17, 2018 – Q. If I decline by employer-sponsored health plan and apply through the exchange instead - and try to get a premium subsidy - would the… Read more

Will the IRS apply my payment to my penalty or to my income tax?

If I owe income tax and the ACA penalty but don’t plan to pay the ACA penalty, will the IRS apply my payment to my penalty or to my income tax?

January 12, 2018 – Q. If I owe income tax and the ACA penalty but don’t plan to pay the ACA penalty, will the IRS apply my payment to my penalty or to my… Read more

How does my access to employer-sponsored coverage impact my eligibility for subsidized coverage through the exchanges?

January 3, 2018 – A. You're correct that your household income is under the cutoff for subsidy eligibility, which will be $113,760 for a family of five when… Read more