Covered CA policy holders won’t have to pay penalties on taxes owed due to having to pay back subsidies – Advance Tax Credits if their MAGI Income was incorrectly estimated per IRS Notice 2015-9 for 2014, ONLY! Be sure to comply with the requirement to change your estimated income and other life changes within 30 days!
Forbes for more information and detail.
Premium Tax Credit APTC Form # 8962 & Penalties
Other Pages in Premium Tax Credit APTC Form # 8962 attaches to Form 1040 section
- IRS # 2015-9 No Penalty on payback of excess subsidy for 2014
- Maximum Pay Back of APTC?
- Tax Return Deadline & Mandate to File
- Commission Income?
- Estimated Income – Credit now or later?
- Maximum Pay Back?
- 8962 – Premium Tax Credit