↵ What this notice is about We are notifying you of the unpaid balance for your Shared Responsibility Payment (SRP) account. What you need to do You must pay the amount you owe immediately but no later than the due date shown on your notice. Read your notice carefully. It explains how much you owe, when it is due, and your payment options. Go to the Payments page to make a payment or learn about the other payment options available. Apply online for a payment plan to pay off your balance over time if you can’t pay the full amount you owe now. See if you qualify for an offer in compromise (OIC) which would allow you to settle your tax debt for less than the full amount you owe. Request a temporary collection delay if you’re experiencing financial hardship. You may want to Review this notice with a tax professional. View additional information about your tax account. Review Publication 5187, Affordable Care Act: What You and Your Family Need to Know PDF. Frequently asked questions What is the Shared Responsibility Payment? (updated Nov. 4, 2024) The Shared Responsibility Payment (SRP) is the amount you owe for not having minimum essential health coverage for yourself and other members of your household or qualifying for an exemption from coverage per Internal Revenue Code Section 5000A - Individual Shared Responsibility Payment. What happens if I can't pay the full amount I owe now? (updated Nov. 4, 2024) You can pay the amount you owe over time when you apply for a payment plan online. What if I have questions, don’t agree, or have already taken corrective action? (added Nov. 4, 2024) Call us at the phone number shown on your notice to speak with one of our representatives if you have any questions or disagree with the information on your notice. If you've already taken corrective action, you should still call us to make sure we have a record of your action and verify that your account information is correct. Will I be charged interest on the money I owe? (added Nov. 4, 2024) We are required by law to charge interest when you don’t pay your liability on time. Unlike penalties, we cannot reduce or remove interest due to reasonable cause. Interest accumulates daily, so the longer you wait to pay, the more interest we add to your account. Visit IRS.gov/interest for more information. See your notice for more information on the interest that may have been applied to your account. Will I receive a penalty if I cannot pay the full amount? (added Nov. 4, 2024) No, penalties do not apply to the SRP. The law prohibits the IRS from using liens or levies to collect any individual shared responsibility payment. However, if you owe a shared responsibility payment, the IRS may offset that liability against any tax refund that may be due to you. How much time do I have? (added Nov. 4, 2024) You need to pay your balance by the due date shown on your notice or additional interest will be added. What if I need to make a correction to my tax return? (added Nov. 4, 2024) You'll need to file Form 1040-X, Amended U.S. Individual Income Tax Return PDF. Tips for next year Consider filing your taxes electronically. Filing online can help you avoid mistakes and find credits and deductions that you may qualify for. In many cases you can file for free. Learn more about e-file. Reference tools Publication 1, Your Rights as a Taxpayer Publication 594, The IRS Collection Process PDF Publication 1660, Collection Appeal Rights PDF Notice 746, Information About Your Notice, Penalty and Interest PDF Paying your taxes Full list of tax forms and instructions Need help? You can authorize someone to represent you before the IRS or inspect and/or receive confidential tax information. You may be eligible for free help from the Taxpayer Advocate Service (TAS). See if you qualify for help from a Low Income Taxpayer Clinic. You can request a copy of your notice or letter in Braille or large print. If you can’t find what you need online, call the telephone number on your notice or letter.
