The time to file taxes is almost over. Here’s what to know

Published on April 4, 2024

How to “reconcile” your tax credit

If you (or anyone in your household) qualified for or used the premium tax credit to lower your Marketplace plan premium at any point in 2023:

You’ll use your Form 1095-A to fill out IRS Form 8962, Premium Tax Credit (PDF, 110 KB) to reconcile your 2023 premium tax credit when you file your taxes.
Any difference between the amount of premium tax credit you used last year and the premium tax credit you actually qualify for based on your final income will affect your refund or taxes you owe.
Report any differences on your taxes and include Form 8962 when you file.
Get step-by-step directions on how to reconcile.

from Insurance – My Blog https://ift.tt/dJvxQoH
via IFTTT