Health coverage providers, employers, and the Marketplace are all required to file forms with the IRS. If you expect to receive a Form 1095-A, you must wait to file your income tax return until you receive that form. You don't need to send your Form 1095-A to the IRS with your tax return when you file and claim the premium tax credit. However, when using the information on your Form 1095-A, you must complete and file Form 8962, Premium Tax Credit. The IRS verifies the information on your Form 8962 by comparing it to information received from the Marketplace and other information you entered on your tax return. Depending on your situation, you may be generating income that the IRS wants to know about. And if you're a continuing seller, keep in mind that it might be harder to avoid income reporting requirements after this year. If you purchased coverage through the Marketplace and did not receive your Form 1095-A, you should contact the Marketplace from which you received coverage. If advance payments of the premium tax credit were paid on your behalf or someone in your family, and you do not file a tax return reconciling those payments, you will not be eligible for advance payments of the premium tax credit or cost-sharing reductions to help pay for health insurance coverage next year. If there were certain changes in your family or if you moved and did not notify the Marketplace of these changes, the applicable SLCSP premium reported on your Form 1095-A, Part III, column B, may not be accurate for one or more months. As an expert SEO, it is important to understand how to optimize content for search engine rankings. To rank on Google, it is important to use keywords strategically throughout the article and ensure that content is well-structured and easy to read. Additionally, it is important to use relevant links within the article that direct readers to other relevant content. This helps search engines understand what the article is about and can help improve rankings.
Do Marketplace Reports Need to be Filed with the IRS?
Learn how health coverage providers, employers, and the Marketplace are required to file forms with the IRS. Understand how advance payments of the premium tax credit are paid and how to optimize content for search engine rankings.
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