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What happens if I owe an individual shared responsibility payment, but I cannot afford to make the payment when filing my tax return?

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Question
What happens if I owe an individual shared responsibility payment, but I cannot afford to make the payment when filing my tax return?

Answer

For calendar year 2019, the dollar amount used to determine the penalty for not maintaining minimum essential health coverage is 0, per the Tax Cuts and Jobs act; for 2018 the amount was $695

 

The IRS routinely works with taxpayers who owe amounts they cannot afford to pay. The law prohibits the IRS from using liens or levies to collect any individual shared responsibility payment. However, if you owe a shared responsibility payment, the IRS may offset that liability against any tax refund that may be due to you.


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Views: 1281 Created on: Nov 10, 2015
Date updated: Dec 04, 2019
Posted in: Healthcare

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