What’s the most I would have to repay the IRS?
For the 2024 tax year, if you underestimated your income and received a larger tax credit than you were eligible for, you must repay the difference between the amount of premium tax credit you received and the amount you were eligible for. However, there are dollar caps on the amount of repayment you owe if your income is below 4 times (400%) the poverty level.
Repayment Limits for Advanced Premium Tax Credits, 2024 Tax Year
Income aspercentage of federalpoverty level Maximum repayment amountfor a single taxpayer Maximum repayment amountfor othertaxpayers Less than 200% FPL $375 $750 200% toless than 300% FPL $950 $1,900 300% toless than 400% FPL $1,575 $3,150 400% FPL and above No limit; repay entire amount of excess tax credit No limit; repay entire amount of excess tax credit