Irs requesting 8962 and 1095-a Form 2023-2024

Irs requesting 8962 and 1095-a Form: What You Should Know

If you make premium payments (APC's), Form 1095-A is used to report that information to the IRS. You must do this if, on or after June 30, 2015, the following occurs: You or a member of your family applies for coverage through the Marketplace. The Marketplace determines a family's premium payment eligibility based on the family's income, household size, and family coverage requirements. The Marketplace calculates APC's based on the premium payment amounts previously determined by the Marketplace for that family's coverage offered in the Marketplace. Your APC is used to calculate the premium tax credit amount. In this case you submit a Form 1095-A with your quarterly premium payment in box 22. For information about your APC, see Health Insurance Marketplace Statements — IRS and Form 1095-A (2022). If you have made advance, or “premium payments” under the Marketplace, you need to submit this annual Form 1095-A and also include a copy of your statement describing your advance payment. The statement must provide all the following: The date you made an advance payment, The name of your insurance company and their telephone number, If your advance payment covered more than one month, the details of how each installment was calculated, If your advance payment covered less than one month, you must file a separate Form 8962 for each month your advance payment lasted above one month. You can file a Form 8962 with your Form 1095-A. You do not have to file Form 1095-A every year if your advance payment did not last longer than 60 days. Your income must be below 150% of the poverty level. The Marketplace provides this income range for this income level. For this information, see: Marketplace Calculator for Income Level of 150% and less of the Poverty Level — IRS How to file Form 1095-A (2021) | Internal Revenue Service Dec 21, 2024 — The Marketplace provides information on filing Form 1095-A, Premium Tax Credit, and a new annual Form 1095-A and Form 1095-AS for individuals who make advance, or “premium payments” under the Marketplace (also known as advance payments).

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