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Home Regulations Help For Taxpayers With Incorrect 1095-A Forms

Help For Taxpayers With Incorrect 1095-A Forms

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by Robert Sheen

1095a_150402The Treasury Department has expanded for taxpayers who received incorrect 1095-A from the government after purchasing Affordable Care Act health insurance through a state online marketplace.

The agency gave these taxpayers the same as previously provided to those who bought through the federal marketplace: they will not have to refund any overpayment they received after filing their federal taxes using the incorrect information on the form, nor will they have to file an amended return.

In February, the Department of Health and Human Services (HHS) announced that some enrollees in the Health Insurance Marketplace received incorrect Forms 1095-A. The form describes their coverage for 2014 and is used by taxpayers to calculate their premium assistance tax credit. About 50,000 taxpayers filed using information from incorrect 1095-A forms.

Treasury announced that those who obtained insurance through the federal exchange did not have to file an amended return and could keep any excess tax refund they received. The additional action just announced extends the same relief to taxpayers who obtained through a state exchange.

HHS has corrected forms.

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