After filling form 8962, Tax return says I owe more than $14000 all the premium back. I am out of job now a days. What I can do?

[tayyab22]

I missed the health care portion on my tax. IRS sent me letter to send form 8962 and form 1095-a. When I recalculated by putting form 1095-a. It says I owe IRS all the premium subsidy back. Which is more than $14000. I am out of job and can not pay this money what should I do? Thanks.

[Critter · Accepted solution]

Send the 1095-A and the 8962 that the IRS is requesting and when they send you a bill you can get on a payment plan ... they will send you information on  how to make payments. 

[tayyab22]

I can not pay that kind of money $15000. I am out of job and my wife is working to pay house hold bills. How can I avoid this kind of big bill?

[Critter]

Read the information the IRS will send with the bill for your options.

[TaxGuyBill]

Assuming it is accurate, there is no way to avoid it.  You will just need to set up a payment plan.

[Critter]

From the IRS  ....  Can't Pay Now?

• Meet your tax obligation in monthly installments by applying for a payment plan (including installment agreement).
• Find out if you qualify for an offer in compromise -- a way to settle your tax debt for less than the full amount
• Request that we temporarily delay collection until your financial situation improves

https://www.irs.gov/payments