If you are assessed a penalty under the ACA for not having insurance or for having inadequate insurance, the IRS can take no action other than seizing part of your refund in order to get that penalty. They cant levy you or charge interest on the unpaid penalty. If you dont pay it, they cant do anything. The same is not true regarding the advanced health premium credit. If you get too much of a health premium, the IRS can come after you with everything its got. Giving accurate information regarding your family size and your income is important when going through the health care exchange.
Posted on: Tue, 23 Sep 2014 13:32:17 +0000
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