PITTSBURGH (KDKA) — It’s another glitch for the Affordable Care Act.
This one affects some people who signed up for health insurance and paid reduced premiums.READ MORE: Sinkhole Shuts Down Busy Bellevue Intersection, Crews Working On Repairs
Now, the government’s telling them to hold off on filing their taxes.
If you had health care insurance in 2014 through the Affordable Care Act and you received a special credit that reduced your premium, you may have been sent an incorrect 1095-A form needed to file your tax return.
“This was the first year we’ve had this really take hold, and we had 11.4 million people sign up last year,” Duquesne University tax professor Bryan Menk told KDKA money editor Jon Delano on Friday. “Less than 10 percent, actually about 7 percent, may have had errors on their forms.”
Menk says the IRS is asking the affected taxpayers to hold off filing their tax returns until an amended statement is received in the next 10 days.
Delano: “Is this a big deal?”READ MORE: Amazon Air Begins Daily Cargo Service At Pittsburgh International Airport
Menk: “It could be a big deal if you had already filed and gotten a refund. That means you may have to repay some of that money you have received.”
While 800,000 incorrect tax statements may have been mailed out, most of those taxpayers have not yet filed tax returns.
“Ninety to 95 percent of those folks who were affected have not yet filed, so if you have not yet filed, if you’re among that 90 to 95 percent, they’re asking you to wait until the first week of March to file,” said Jason Snyder of the Consumer Healthcare Coalition. “By then they will have reissued the 1095-A.”
For more information, visit: https://www.healthcare.gov/marketplace/global/en_US/registration
Snyder says the glitch is just part of the growing pains of implementing a new law, and Prof. Menk adds, “It’s not uncommon to get a corrected tax form and have to file an amended return.”
To learn if you’re among the 800,000, says Snyder, “You can log into your healthcare.gov account to find out whether you were in fact affected.”MORE NEWS: Computer Chip Shortage Causing A Slow Down In The New Car Market