The Internal Revenue Service is warning tax preparers that clients who fail to file their tax returns for last year run the risk of missing out next year on advance payments of the premium tax credit for health insurance under the Affordable Care Act.
In an email to tax professionals Friday, the IRS urged tax practitioners to remind their clients who received advance payments of the premium tax credit in 2014 that they should file their 2014 tax return as soon as possible this summer, even if they have an extension, to protect their eligibility for advance payments from their health insurance marketplace in 2016.
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