Tax Credit Reconciliation for Marketplace Consumers

Taxpayers must file a tax return if anyone on the tax return received Advance Premium Tax Credits (APTC) on a 2019 Marketplace plan. These individuals must also reconcile the amount of advance payments received against the eligible final credit amount. The taxpayer needs an IRS Form 1095-A and Form 8962 to reconcile. Form 1095-A is issued by the Health Insurance Marketplace and was to be mailed by Jan. 31. Form 8962 is used to determine the final premium tax credit and any overpayment or underpayment of APTCs. If these forms are not reconciled, the taxpayer may be subject to repayment of the full tax credit or discontinuation of current APTCs used to purchase their 2020 coverage on the Marketplace.