The Internal Revenue Service (IRS) today announced a procedure for taxpayers who are still waiting for public exchange coverage forms, or who are trying to get forms corrected.
Patient Protection and Affordable Care Act (PPACA) exchange users who are missing accurate Form 1095-A notices should file requests for automatic extensions, on Form 4868, by April 15.
The IRS plans to give individuals who get 1095-A’s late until Oct. 15 to file their tax returns.
“When taxpayers receive their Form 1095-A, they should file their return using the information from the form,” officials said in the announcement.
IRS officials did not say how many people they expect to use the procedure, but only a small percentage of taxpayers have exchange qualified health plan (QHP) coverage, and only a small percentage of those are believed to be having trouble getting accurate 1095-A’s.
Earlier, the IRS announced that it will not try to collect extra taxes this year from individuals who file tax returns with inaccurate 1095-A’s and turn out to owe more taxes than the 1095-A’s indicate.