As a friendly reminder, if you received an advance premium tax credit (subsidy) to assist with your health insurance payments from an Exchange, it’s crucial to complete and include Form 8962 (Premium Tax Credit) with your federal return. Similar to last year, the IRS is rejecting electronically filed returns that lack Form 8962 when a subsidy was received. The return will not be accepted until Form 8962, including the reconciliation of the advance premium tax credit, is included.
For paper filings, if Form 8962 is omitted when required, the IRS will send a notice (Letter 12C) requesting the missing form, causing a delay in processing the return.
The necessary information to complete Form 8962, such as the amount of subsidy received, can be found on Form 1095-A (Health Insurance Marketplace Statement). Individuals who obtained insurance through an Exchange should have received Form 1095-A.
For additional guidance, please refer to the following resources on the IRS website:
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