Failing to File 2014 Tax Returns Affects Advance Payments of Premium Tax Credit in 2016

In their August 7th e-Newsletter, the IRS announced that Failing to file 2014 tax returns will affect the advance payment of Premium Tax Credit. An excerpt from the newsletter is listed below. To view the full newsletter click here.

Remind your clients who received advance payments of the premium tax credit in 2014 that they should file their 2014 tax return as soon as possible this summer, even if they have an extension, to protect their eligibility for advance payments from their Marketplace in 2016. Depending on the situation the IRS is currently sending Letter 5591, Letter 5591A or Letter 5596 to taxpayers who received 2014 advance payments, but have not yet filed their tax return. The letters remind taxpayers of the importance of filing their 2014 federal tax return along with Form 8962, Premium Tax Credit, as soon as possible. For more information, see Understanding your Letter 5591, Understanding your Letter 5591A, Understanding your Letter 5596 and the ACA What’s Trending page.


“Issue Number: 2015-31.” E-News for Tax Professionals 7 Aug. 2015. IRS.

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