Health Care Affordable Care Act Update: Treasury Announces Expanded Relief for Taxpayers Receiving Corrected 1095-A Forms Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by TurboTaxLisa Published Mar 20, 2015 - [Updated Jul 23, 2019] 1 min read 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. Previous Post Insured for the First Time? 5 Pitfalls to Avoid when… Next Post What Health Care Forms Should I Have When Filing My… Written by Lisa Greene-Lewis Lisa has over 20 years of experience in tax preparation. Her success is attributed to being able to interpret tax laws and help clients better understand them. She has held positions as a public auditor, controller, and operations manager. Lisa has appeared on the Steve Harvey Show, the Ellen Show, and major news broadcast to break down tax laws and help taxpayers understand what tax laws mean to them. For Lisa, getting timely and accurate information out to taxpayers to help them keep more of their money is paramount. More from Lisa Greene-Lewis Follow Lisa Greene-Lewis on Twitter. One response to “Affordable Care Act Update: Treasury Announces Expanded Relief for Taxpayers Receiving Corrected 1095-A Forms” Hi! Lisa I file my taxes the 1st week of february and I just got the corrected form do I have to refile.Thanks for the info. Reply Leave a ReplyCancel reply Browse Related Articles Health Care Affordable Care Act Update: New Information About Form… Health Care Health Insurance 1095 Forms – As Easy as ABC [Video] Health Care Affordable Care Act Update: New Information About Form … Health Care How Will I Prove My Health Insurance Under the Affordab… Health Care How to Show Proof of Health Insurance For Taxes Affordable Care Act (ACA) Get the 411 on Affordable Care Act 1095 Forms Health Care Start Planning Early: New Affordable Care Act Forms Yo… Health Care Get Your 1095 InFORMation from TurboTax Health Care The ABC’s of the Affordable Care Act Tax News Tax Form Arrival: What Other Tax Forms You Should Expec…
Hi! Lisa I file my taxes the 1st week of february and I just got the corrected form do I have to refile.Thanks for the info. Reply
