Solved: Tax Credit
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
yu0106
Level 2

Tax Credit

Do I still pay back tax credit of my health insurance since government changed about tax return?

1 Best answer

Accepted Solutions
LeonardS
Expert Alumni

Tax Credit

This link Filing and Payment Deadlines Questions and Answers  has information you may find helpful.  It does not specify that repayment of excess Premium Tax Credit will be forgiven.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

6 Replies
ColeenD3
Employee Tax Expert

Tax Credit

Are you referring to the Premium Tax Credit? The law regarding it has not changed. The only thing that has changed is that you are no longer penalized for not having insurance on your tax return.

 

If you took a larger credit that you were entitled to, you must pay it back.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
yu0106
Level 2

Tax Credit

Yes. I know that there is no penalty not having health insurance.

This morning President Trump repeated no penalty for tax return. There is no detail.

BillM223
Employee Tax Expert

Tax Credit

Colleen is correct that there has been no announced change to how the Premium Tax Credit is handled, and I doubt that this will change.

 

I do not know what the President may have said, but it seems most likely that he was referring only to no penalty for filing "late" (i.e., after April 15th).

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
yu0106
Level 2

Tax Credit

You do not know what the president may have said. Then can you search it and can you tell me?

Your answer is nothing if you do not know. I'm sorry, but you know I'm not professional. Therefore, you have to tell me after you find out. I cannot find by myself because I do not have right words to google it. Please break down more and explain to me.

LeonardS
Expert Alumni

Tax Credit

This link Filing and Payment Deadlines Questions and Answers  has information you may find helpful.  It does not specify that repayment of excess Premium Tax Credit will be forgiven.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

yu0106
Level 2

Tax Credit

Thank you, LeonardS. 

The link shows me it does not say about it. It may change again, but for now probably I have to pay back.

Also, I found a good Q&A.

Dynamic AdsDynamic Ads
v
Privacy Settings