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tayyab22
New Member

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?

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.

1 Best answer

Accepted Solutions
Critter
Level 15

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?

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. 

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5 Replies
Critter
Level 15

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?

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
New Member

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?

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
Level 15

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?

Read the information the IRS will send with the bill for your options.
TaxGuyBill
Level 9

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?

Assuming it is accurate, there is no way to avoid it.  You will just need to set up a payment plan.
Critter
Level 15

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?

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

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