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What happens if I have miscalculated my shared

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responsibility penalty for 2015? It...
What happens if I have miscalculated my shared responsibility penalty for 2015? It should have been $499 more than what I reported.
Submitted: 1 year ago.Category: Tax
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3/16/2016
Tax Professional: Tax.appeal.168, Tax Accountant replied 1 year ago
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 4,026
Experience: 3+ decades of varied tax industry exp. Tax Biz owner
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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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