Report Changes as they happen
Report Changes as they happen
Premium Tax Credit IRS Publication 974
Premium Tax Credit IRS Publication 974

I also attached my 2015 tax returns, can we use that instead of 2016 projected, to get subsidies [for 2017]?

***No.  You should go by what you expect to earn in the upcoming year as everything comes out in the wash when you file 2017 taxes.  See publications 974 Premium Tax Credit and 8962 to be attached to your 1040.

Even if you did get by using a lower income for the January start, once you see that your MAGI income at the end of the year will be higher, you are mandated to report it within 30 days.

bc my projected is higher, and i wont qualify.

***You can still buy insurance, guaranteed issue, in or outside of Covered CA, you just won’t get the ObamaCare subsidies.

However, you do own a business, so you can either get a Section 106 deduction or self employed line 29 deduction on your 1040.

Knowingly filing false or misleading documents to gain federal benefits may be a serious crime.

 

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