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Health Insurance and Your Federal Income Tax Return
What’s the most I would have to repay the IRS?
For the 2024 tax year, if you underestimated your income and received a larger tax credit than you were eligible for, you must repay the difference between the amount of premium tax credit you received and the amount you were eligible for. However, there are dollar caps on the amount of repayment you owe if your income is below 4 times (400%) the poverty level.
Repayment Limits for Advanced Premium Tax Credits, 2024 Tax Year
| Income as percentage of federal poverty level |
Maximum repayment amount for a single taxpayer |
Maximum repayment amount for other taxpayers |
|---|---|---|
| Less than 200% FPL | $375 | $750 |
| 200% to less than 300% FPL |
$950 | $1,900 |
| 300% to less than 400% FPL |
$1,575 | $3,150 |
| 400% FPL and above | No limit; repay entire amount of excess tax credit | No limit; repay entire amount of excess tax credit |