Published on April 17, 2015
If you enrolled in a plan by means of the Health Insurance Marketplace® for 2014, you must’ve acquired an essential tax assertion within the mail, known as Form 1095-A. This assertion has info you must fill out your 2014 federal earnings tax return.
Most folks acquired an accurate Form 1095-A. However, if we contacted you as a result of your Form 1095-A is wrong, here is one cause why. Some varieties included the month-to-month premium quantity of the second lowest value Silver plan for 2015 as an alternative of 2014. The incorrect quantity is listed in Part III, Column B of the Form 1095-A. This does not imply your tax credit score was incorrect; that is purely an error in what was printed on the shape.
If your kind was affected by this problem, you must’ve acquired a name and e-mail from us, and a message in your Marketplace account on HealthCare.gov. When log in, choose your 2014 software, after which choose “Tax varieties.” You’ll see a message letting you realize in case your 1095-A kind is being corrected and in case your corrected kind is on the market.
Even in case your Form 1095-A was incorrect, you must file your 2014 Federal earnings taxes.
We encourage you to file your 2014 Federal earnings taxes both with the unique, incorrect Form 1095-A or the right Form 1095-A if it’s out there. If you don’t have your right kind but, you will discover the correct quantity of the second lowest value Silver plan that utilized to your family in 2014, by both:
Filing for an extension
You may file for an extension of time to file your 2014 federal earnings tax return utilizing IRS Form 4868 (PDF, 518 KB).
If you get your Form 1095-A, even when it’s not right, we encourage you to file your taxes.
Note: If you file a Form 4868, you’ve further time to file — however you continue to should pay any tax you owe by April 15. After you get your right Form 1095-A, you must file your tax return as quickly as you’ll be able to and connect Form 8962 utilizing the data on the Form 1095-A. Important: If you file a Form 4868, you’ve an prolonged time to file, however not an extension to pay any tax you owe.
If Form 1095-A was issued to you in error
If the Marketplace notified you that the Form 1095-A you bought was issued in error, and that you must ignore it, file your tax return with out Form 8962.
Already filed your taxes utilizing the inaccurate Form 1095-A?
You do not should file an amended tax return if all the following are true for you:
- You enrolled in a 2014 Marketplace plan both by means of HealthCare.gov or by means of your state’s medical insurance market
- You acquired an incorrect Form 1095-A
- You filed your tax return primarily based on the inaccurate Form 1095-A
Note: This is true even when extra taxes can be owed primarily based on the brand new info.
But in the event you filed with the inaccurate Form 1095-A, you could profit from submitting an amended return. Filing an amended return might lower the quantity of taxes you owe or improve your refund. Comparing the 2 Form 1095-As can assist you identify in the event you’re prone to profit from submitting an amended tax return.
For instance, if the month-to-month premium on your second lowest value Silver plan on the inaccurate 1095-A you filed your taxes with lists a premium of $100 and the corrected kind lists a premium of $200 (the premium on the inaccurate kind is decrease than the premium on the right kind), you could profit from amending.
Filing an amended return
You do should file an amended return if:
- The Marketplace notified you that the Form 1095-A was issued in error since you by no means accomplished enrollment. The premium tax credit score is on the market just for individuals who enrolled in qualifying Marketplace protection. If you by no means paid premiums on your protection you then weren’t enrolled in protection. If you filed and incorrectly claimed a premium tax credit score primarily based on these varieties, and you do not amend your return, the IRS might contact you about extra tax due.
- The Form 1095-A was incorrectly issued for protection that does not qualify for the premium tax credit score, like stand-alone dental plans and catastrophic plans. If you filed and incorrectly claimed a premium tax credit score primarily based on these varieties, and you do not amend your return, the IRS might contact you about extra tax due.
- You filed with out receiving Form 1095-A and did not reconcile the advance credit score funds utilizing Form 8962, Premium Tax Credit (PTC).
Note: You’ll use Form 1040-X (PDF, 141 KB) to amend your return.
Need assist? For extra details about how well being protection will have an effect on your taxes, go to HealthCare.gov/taxes/.
Free tax assist is on the market in the event you qualify by means of Free File or Volunteer Income Tax Assistance.
If you’ve different questions on your taxes, go to IRS.gov: