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Taxpayers with Advance Payments of the Premium Tax Credit Who Have not Filed their 2014 Tax Return

Taxpayers who received advance payments of the premium tax credit in 2014 and have not yet filed their 2014 tax return may receive Letter 5591. According to the Understanding Your Letter 5591 FAQ, taxpayers who do not file a tax return, will not be eligible for advance payments of the premium tax credit or cost-sharing reductions to help pay for their Marketplace health insurance coverage in 2016. This means the taxpayer will be responsible for the full cost of the monthly premiums and all covered services. In addition, the IRS may instruct the taxpayer to pay back some or all of the advance payments of the premium tax credit.


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