If the information on Form 1095-A is wrong, what should a consumer do?

Prepare for the Federally Facilitated Marketplace (FFM) Exam. Use flashcards and multiple-choice questions with hints and explanations. Get ready to excel and achieve success in your FFM certification!

Multiple Choice

If the information on Form 1095-A is wrong, what should a consumer do?

Explanation:
When Form 1095-A has incorrect information, you should contact the Marketplace Call Center to request a correction. The 1095-A contains the data used to calculate the premium tax credit on Form 8962, so any errors can lead to an incorrect credit amount on your tax return. The Marketplace is the proper channel to fix this and will issue a corrected Form 1095-A if needed. Do not wait for next year’s form, ignore the discrepancy, or try to amend the 1095-A with the IRS yourself. Once you receive the corrected form, use it to accurately reconcile your premium tax credit on your tax return.

When Form 1095-A has incorrect information, you should contact the Marketplace Call Center to request a correction. The 1095-A contains the data used to calculate the premium tax credit on Form 8962, so any errors can lead to an incorrect credit amount on your tax return. The Marketplace is the proper channel to fix this and will issue a corrected Form 1095-A if needed. Do not wait for next year’s form, ignore the discrepancy, or try to amend the 1095-A with the IRS yourself. Once you receive the corrected form, use it to accurately reconcile your premium tax credit on your tax return.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy