If you were enrolled in an Affordable Care Act (ACA) health plan in 2022 and received tax credits, you must file a 2022 federal income tax return by Tuesday April 18, 2023. Because filing taxes is confusing, we’ve outlined what you need to do.
Do I have to File Taxes if I get Premium Tax Credits?
Yes. When you enrolled in a health plan, you got credits to lower the cost of the plan’s monthly premium. If you do not file taxes, you could lose your eligibility for future premium tax credits.
The amount of tax credits you received was based on the number of people in your household and the income you expected to earn in 2022. When you file your taxes, use the income you actually earned:
- If you earned less than you thought you would, you can claim a credit on your tax return.
- If you earned more than you expected, you may have to repay some of it.
You must file a 2022 federal income tax return by April 18, 2023.
If you get advance premium tax credits or if you plan to claim the premium tax credit, you must file a federal income tax return with the Internal Revenue Service (IRS).
What You’ll Need
- Most people use Form 1040 to file their taxes.
- If you are 65 years or older, you may use Form 1040-SR.
- Non-resident aliens may need to use Form 1040-NR.
- Download Form 8962.
You must complete and send Form 8962 with your tax return if you got tax credits or if you want to take the premium tax credit.
- Use the tax credit information on Form 1095-A to complete Form 8962.
- When finished, send Form 8962 with your tax return.
- Keep a copy of the form with your tax records.
- You do not need to send Form 1095. Keep it in your records.
Form 1095-A
You should have received Form 1095-A form the marketplace. It has information about your health insurance policy, premiums, tax credits applied, and the people in your household covered by the plan.
I Don’t Have My 1095-A Form
If American Exchange enrolled you in a marketplace plan, we can get the form for you.
If we didn’t enroll you, we can try to get it for you.
Call 1.888.995.1674 or email enroll@americanexchange.com.
You can also get it online:
- Log in to your healthcare.gov account.
- Under Your Existing Applications, select your 2022 application.
- Select Tax Forms from the menu on the left.
- Select Download Form 1095-A.
Download the instructions for accessing your 1095-A through healthcare.gov.
Can I Get Help Filing My Taxes?
Some states and communities offer free tax filing services. Contact your state or case manager to see if you can get help.
Here are a few programs that offer free or low-cost help:
- The Volunteer Income Tax Assistance (VITA) program offers free tax help to people who generally make $60,000 or less, persons with disabilities, the elderly, and limited English speaking people.
- The Tax Counseling for the Elderly (TCE) program offers free help for people aged 60 or older.
- The IRS has tax filing services for people whose adjusted gross income (AGI) is less than $73,000. There could be a cost depending on the service you pick.
Remember, you must file your taxes by April 18, 2023 to remain eligible to get health insurance marketplace premium tax credits.
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