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Professional Tax Software News & Advice

IRS Will Not Penalize Those Who Received Wrong Tax Info from Health Insurance Marketplaces

The Internal Revenue Service will not try to collect additional taxes from those taxpayers who have already filed their taxes after receiving incorrect information from the federal health insurance marketplace, Healthcare.gov. Last week, the Centers for Medicare and Medicaid Services announced that approximately 800,000 taxpayers who received coverage via Healthcare.gov and qualified for premium tax credits had received the wrong information on a Form 1095-A, “Health Insurance Marketplace Statement,” sent to them in the mail. They were asked to wait to file their taxes until March when a corrected form will be sent to them. [More]