Help Paying Marketplace Premiums: Challenges Estimating Income and Tax Consequences

What’s the most I would have to repay the IRS?

For the 2020 tax year only, nobody is required to repay any excess premium tax credit for the year.

For people who received excess premium tax credit in 2020 and who have not yet filed their 2020 return, the IRS advises that you do not report any excess premium tax credit on your Form 1040 and do not include Form 8962 with your return.

For people who already filed their 2020 return and repaid excess premium tax credit for 2020, the IRS advises that you not file an amended return solely to get a refund of that amount.  The IRS will refund the payment to you and will provide more details about that process soon.

While we have made every effort to provide accurate information in these FAQs, people should contact the health insurance Marketplace or Medicaid agency in their state for guidance on their specific circumstances.

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Washington Offices and Barbara Jordan Conference Center: 1330 G Street, NW, Washington, DC 20005 | Phone 202-347-5270

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Filling the need for trusted information on national health issues, the Kaiser Family Foundation is a nonprofit organization based in San Francisco, California.