Regulations

Early Filers Can Keep Subsidy Overpayments

By Robert Sheen | February 27, 2015

The approximately 50,000 Americans who have filed using incorrect government-supplied data for their Act do not have to file amended , the Treasury Department announced.

The will not demand additional money from taxpayers who underpaid their 2014 income taxes because wrong information they received on Form 1095-A, officials said.

Those who overpaid their taxes because of the incorrect sent by the federal healthcare exchanges can file an amended return to get a refund.

About 800,000 taxpayers received 1095-A with erroneous calculations their . Corrected will be mailed out early in March, the Department and Human Services said. The estimates that 50,000 taxpayers had filed before the mistake was spotted.

Calculation the , or subsidy, is based the for the second-lowest “silver” plan for the . About 20% all those who purchased from the federal received that mistakenly used 2015 premiums, rather than those for 2014.

Posted in Regulations

Topics

Popular Posts