Don’t miss the 2015 tax deadlines

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.

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