Affordable Care Act Update: Treasury Announces Expanded Relief for Taxpayers Receiving Corrected 1095-A Forms

Today the Department of Treasury announced that it is expanding relief to taxpayers who received incorrect 1095-A forms for reasons other than incorrect benchmark premium amounts indicated on their original 1095-A form.

Although still a small percentage of taxpayers, there are some that may see a corrected 1095-A form for reasons like incorrect coverage dates.

What is the Expanded Relief?

If you enrolled in Marketplace coverage and received a corrected 1095-A form and you already filed your taxes, you do not have to amend your taxes. The IRS will not try and collect any additional taxes from you based on the updated 1095-A form you received. This relief applies to your health insurance whether you purchased in the Healthcare.gov Marketplace or a state-based Marketplace.

Can I Still Amend?

You may choose to file an amended tax return if you are going to get a larger tax refund. TurboTax can help you easily amend your tax return with our express amend process if you decide to amend.

What if I Haven’t Filed and I’m Still Waiting for a Corrected 1095-A Form?

Most people should have received their corrected 1095-A by now, but if you haven’t yet you can log into your HealthCare.gov account and download your updated form if available. Once you have the data from the updated form you can proceed to prepare your taxes.

As with all tax laws, TurboTax is up to date and has you covered. If you have more questions about the Affordable Care Act, you can get answers at TurboTaxHealth.