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Hamben: Do you think EmptyEternity is just making up a story ? Are you a CPA?
Overestimated Income
- Thread starter bluemarlin08
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Try to find a case where someone has been prosecuted, not one.
I would imagine the "penalty" is perhaps them paying the tax credit back?? Maybe they weren't required to file taxes but did so to get EITC refunded or something like that, and that was not given because they had to pay back the ACA tax credit?
What people consider a "penalty" varies. One of my clients did say they had to pay back something from 2014 ACA credits and were making payments to the IRS, so maybe there is truth to that?
I am not a CPA however, nor do I play one on TV so I try to stay out of it and just make sure people understand if their income ends up below a certain level they may not have ever been eligible for the subsidy in the first place.
What people consider a "penalty" varies. One of my clients did say they had to pay back something from 2014 ACA credits and were making payments to the IRS, so maybe there is truth to that?
I am not a CPA however, nor do I play one on TV so I try to stay out of it and just make sure people understand if their income ends up below a certain level they may not have ever been eligible for the subsidy in the first place.
Yes in every department if anything has been chosen by mistake then you can inform the department by filling the application form to correct them. I think this is not the big issue, ACA policy has been used in all over the US. This kind of mistake has often happened. Contact your ACA agent to solve your issues.
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