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What happens if I have miscalculated my shared

Customer Question

What happens if I have miscalculated my shared responsibility penalty for 2015? It should have been $499 more than what I reported.
Submitted: 8 months ago.
Category: Tax
Expert:  Tax.appeal.168 replied 8 months ago.

The IRS will likely discover the difference and if you're due a refund, deduct the miscalculated amount from the refund. The mathematical error is likely going to delay your refund processing if you're due a refund. For more information regarding the shared responsibility, refer to the following link;

https://www.irs.gov/Affordable-Care-Act/Individuals-and-Families/Four-Reasons-You-Might-Choose-to-Amend-Your-Tax-Return

Let me know if I can be of further assistance to you regarding this matter. If all is clear, please be so kind as to provide a positive rating of 3 or more stars so that I can receive credit for assisting you today.

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