Hi--We also went over the amount due to having an increase in income the last few months of the year. Our accountant says we have to pay back the overage with our tax return (we got extension). We are self-employed as a S Corp and the insurance expense is included each year as part of salary we are taxed on. Can we still deduct the premium we paid plus the extra $$$ we have to pay? Seems like it would just be a high penalty otherwise. Thanks.
