I had Covered California and forgot to update my income during the year. Now that I’m filing my federal taxes, I owe a huge amount 6000$ to the IRS. From what I understand, nothing can be done at this point since my 1095-A is already issued.
Is anyone else in the same boat? Would love to hear how you’re dealing with it.
Owe 6k to IRS because I forgot to update income in CoveredCA
byu/Playful-Set2810 intax
Posted by Playful-Set2810
1 Comment
It’s probably from the ACA Subsidies you got to reduce the cost of your health insurance based on old income reporting. Nothing you can really do to dispute it because either you would pay more for your health insurance or you repay the IRS for the ACA credits.