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jerseyalli6
New Member

If I owed for overpayment of obama care is that deducted from my taxes or do i then have a seperate bill for that?

 
1 Best answer

Accepted Solutions
MelaineC
Level 1

If I owed for overpayment of obama care is that deducted from my taxes or do i then have a seperate bill for that?

If you will owe due to getting a high subsidy with Obama care (premium tax credit) then it will the added to the amount of taxes you have to pay and if you are due a refund, it will reduce your refund by the excess amount.  So you will not receive a separate bill for that, it will all be done when you complete your tax return.

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3 Replies
MelaineC
Level 1

If I owed for overpayment of obama care is that deducted from my taxes or do i then have a seperate bill for that?

If you will owe due to getting a high subsidy with Obama care (premium tax credit) then it will the added to the amount of taxes you have to pay and if you are due a refund, it will reduce your refund by the excess amount.  So you will not receive a separate bill for that, it will all be done when you complete your tax return.

jerseyalli6
New Member

If I owed for overpayment of obama care is that deducted from my taxes or do i then have a seperate bill for that?

Thank you so much 🙂
MelaineC
Level 1

If I owed for overpayment of obama care is that deducted from my taxes or do i then have a seperate bill for that?

You are welcome 🙂
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