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Don’t Miss Deadline for 2015 Taxes

Published on April 7, 2016

Attention: The deadline to file 2015 federal income taxes is April 18th. You have just over one week to file.

No matter how you got your 2015 health coverage — through the Marketplace, your job, or another source — you must report your 2015 health coverage status to the IRS when you file.

4 things to know if you used premium tax credits with your Marketplace plan in 2015

  • You must file a 2015 tax return and “reconcile” your health insurance tax credit on your return.
    • This means you compare the amount of tax credit you used in advance during the year with the amount you actually qualify for based on your final income.
    • If you used more health insurance tax credit than you qualify for, you’ll pay the difference with your federal taxes. If you used less, you’ll get the difference as a credit.
  • If you don’t file a 2015 tax return and reconcile, you could lose any advanced payments of the premium tax credit beginning in 2017.

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