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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?

Forum|Forum|7 years ago
June 2, 2019
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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.

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Best answer by Critter

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.

CritterAnswer

Employee

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.

T

tayyab22Author

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

Employee

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