Insurance Blog's

Don’t miss the 2015 tax deadline

published to April 7, 2016

Note: of deadline How to file your 2015 federal income tax return April 18th. The submission deadline is just over a week.

Regardless of how you obtained your 2015 health insurance (marketplace, job, or another source), you must report your 2015 health insurance status to the IRS when you apply.

4 Things You Need to Know About Using Premium Tax Credits with Marketplace Plans in 2015

  • File your 2015 tax returns and “Reconcile” Health insurance tax credit when returning home.
    • This means comparing the amount of tax credits you used upfront that year to the amount you actually qualified for based on your final income.
    • If you use a health insurance tax credit that exceeds your eligibility, you will pay the difference in federal taxes. If you use less, you can receive the difference as a credit.
  • Failure to file a 2015 tax return and make an adjustment may result in the loss of premium tax credit advances from 2017.

Ready to get started? Please select the situation that best applies to your health insurance in 2015. You will be presented with step-by-step instructions and the required health insurance tax forms.

Need tax help?

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button