Welcome Guest. Register Now!  

For 2016 Tax Tips For Year 2016.

LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-20-2017, 12:05 PM
Junior Member
Join Date: Mar 2017
Posts: 1
Question Is there a loophole to get around paying back disallowed ACA premium subsidies?

I'm retired and receiving Social Security and Pension income as well as my IRA. I have a small business that has provided me with some writeoffs and negative profit. I have health insurance thru the ACA.

In 2016, I received an unexpected monetary settlement from a previous employer which effectively knocked me out of qualifying for premium subsidies on my ACA health insurance. Now that it's tax time, that extra income in 2016 has come back to bite me. IRS says I owe them the subsidies they gave me ($7K plus) which changes my $3200 refund to a $4400 tax debt. Is there anything I can do at this point to get around this? Any loopholes or deductions I can claim that I might have missed? Thanks.

Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Self employed health insurance deduction when paying 100% of different group premium? redbiz16 Medical 3 12-06-2016 03:33 PM
Depreciation and Recapture : SUV Loophole : Section 179 [email protected] Depreciation 3 04-20-2015 02:44 AM
Paying back 2009 house credit this year but... help! Jmg1982 For 2013 4 02-08-2014 08:44 PM
Back-to-School Tips for Students and Parents Paying College Expenses Samatg General 0 08-16-2011 03:15 PM
2009 SUV tax loophole still in effect? [email protected] Limited Liability Company 0 02-08-2009 07:31 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 » Income
 » IRA/Sep
 » Medical
 » Payroll
Forum for CPAs
Financial Planning

» Recent Tax Q&A
No Threads to Display.