Q: I signed up for ACA health insurance when I was unemployed, early in 2018. Then I landed a job with insurance. Now I owe
15 k to IRS and 8k to is. HELP! I am 65 with no savings. I work full time.
A:
You likely received a subsidy and then had income that exceeded the allowable amount under the subsidy.
Go to irs.gov and pull forms 9465, 433F, and 433D. Fill them out and mail them in and mail the first two payments, the third should be auto debited from your account.
Or hire a tax attorney to resolve it.
Bruce Alexander Minnick agrees with this answer
A:
If you cannot afford to repay the amount monthly (the IRS will want around $210 a month) then you will likely need to hire an attorney to help you come up with a collection alternative which can be currently not collectible status, an Offer in Compromise, or a partial payment installment agreement.
Most of us offer a free consultation and can give you an idea of what would be the best collection alternative. Just stay away from the places you see advertised on TV.
Bruce Alexander Minnick agrees with this answer
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