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¶22-807 Subsidy reconciliation

[Source: Analysis and Explanation of California Taxes • 01/01/2024] | By: Spidell
...was computed on FTB Form 3849, Premium Assistance Subsidy. The reconciled amount was required to be reported on the responsible individual's tax return for the covered year. (Gov't. Code §100810) Individuals who were required to reconcile the amounts received verses the amount they were actually entitled to must file a return even if the individual is below the filing thresholds. Repayment caps If the pre-May 2021 advanced payments exceed the credit allowed, the income tax ...

2022nwhat replaces FTB form 3849?

[Source: Message Board • 01/11/2023] | By: Anonymous
...2nwhat replaces FTB form 3849? ...
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Publication 1006 - California Tax Forms and Related Federal Forms

[Source: FTB Publications • 12/01/2022] | By: Spidell
...None Not applicable FTB 3849 Premium Assistance Subsidy 8962 No FTB 3853 Health Coverage Exemptions and Individual Shared Responsibility Penalty None No FTB 3893 Pass-Through Entity Elective Tax Payment Voucher None Not applicable FTB 3895 California Health Insurance Marketplace Statement 1095-A No FTB 3913 Moving Expense Deduction 3903 No FTB 4197 Information on Tax Expenditure Items None Not Applicable FTB 5805 Underpayment of Estimated Tax by Individuals and Fiduciaries 2210 No FTB 58...
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Publication 1095D - Tax Practitioner Guidelines for Computer-Prepared Returns

[Source: FTB Publications • 12/01/2022] | By: Spidell
... Forms • Form FTB 3849, Premium Assistance Subsidy • FTB Pub. 3849A, Premium Assistance Subsidy • Form FTB 3866, Main Street Small Business Tax Credits Support of the Scannable Format in Forms and Payment Forms FTB supports the use of the following forms and payment forms in a scannable format: • Scannable voucher Form 100-ES • Scannable voucher Form 540-ES • Scannable voucher Form 541-ES • Scannable voucher FTB 3519 • Scannable voucher FTB 3522...
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Form changes for the 2023 filing season

[Source: California Taxletter • 11/01/2022] | By: Sandy Weiner, J.D.
... and Form FTB 3849, Premium Assistance Subsidy. Because the Inflation Reduction Act of 2022 extended the availability of the increased federal health care subsidies provided by the Premium Tax Credit, California will not be providing additional premium assistance subsidies through 2025. Lines 64 and 77 on the FTB Form 540 and lines 74 and 87 on the FTB Form 540NR, related to premium subsidies and premium subsidy repayments, are also being removed. Other form ch...
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Chapter 8 - Bars and Restaurants

[Source: CDTFA Manuals • 02/16/2022] | By: Spidell
...Total for 4th Qtr 199972 38496 21627 14352 $9,483.13 22Less: Wine included in totals216$322.80 23 24Total Distilled Spirits 4 Qtr 9972 38196 027 14352 $9,160.33 25 26 27 28 29 30 Note: A review of purchase invoices indicate that vendors are recorded c onsistently on a weekly basis. This exhibit is intended to be one example of a method to perform a purchase segregation. Many different methods exist for performing a purchase segregation. Copy to Taxpayer Date: _________ Bars and Restaurants Feb...
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Prepare to pay back California health care subsidies

[Source: California Taxletter • 12/01/2021] | By: Sandy Weiner, J.D.
...e reconciled on Form FTB 3849, Premium Assistance Subsidy. Taxpayers should consult FTB Publication 3949A, Premium Assistance Subsidy, for more information. Forewarned is forearmed Although the California subsidy repayment may not have been anticipated, the good news is that taxpayers should receive additional Premium Tax Credits on their federal return that are greater than the amount they will have to pay California. But taxpayers need to be aware of this potential cash flow shortage, as the...

California Premium Assistance Subsidy From 3849 - client got a huge refund

[Source: Message Board • 10/27/2021] | By: Randal Owens
...Had a client referred to me.  He filed his CA return and showed no federal PTC amount.  The repayment was forgiven on federal.  So the form shows that he was due a huge $13K refund.  He did get the check.  Based on earlier posts, it seems that this was correct.  Since he filed and got the check, does he get to keep it?  Or does he need to amend and repay the calculated amount?  In other words, did the FTB retroactivly change the rules and now want repaymen...

PTC & PAS

[Source: Message Board • 10/25/2021] | By: Anonymous
...owever, California (Form 3849) has calculated the taxpayer is eligible for PTC and needs to pay back the PAS received on Form 3895.  Is this correct? ...

Need to amend 2020 CA return to adjust PAS form 3849 because of Federal changes?

[Source: Message Board • 09/24/2021] | By: Deborah Gottas
...client who had a CA Form 3849 to reconcile their Advance Payment Subsidy from the state.  As a result of the federal adjustments because of the UI exclusion, the federal PTC reconciliation changed substantially.  Not being familiar with the exact method of calculation on the new CA Form 3849, I did not initially see a need to amend the CA return.  After the client finally received her due refund from the IRS, I went to check if I needed to amend for CalEITC.  To my surprise (...

CA Premium Assistance Subsidy repayment

[Source: Message Board • 06/11/2021] | By: Tamara Figlar
...Is it correct for Form 3849 to include an amount on line 11d, Annual federal PTC amount, if there was NOT a federal PTC or advanced PTC amounts? There is not a Form 8962 generating in the return because income is below 100% of federal poverty amount, so they are not entitled to a credit.  The California Form 3849 is including the amount calculated on Worksheet 4 and 5 in the instructions. By including the amount of federal PTC, which was not received, is requiring a repayment of the entir...

CA marketplace-how does IRS forgiveness of Excess PTC affect CA overpymt PAS

[Source: Message Board • 05/26/2021] | By: Anonymous
...put those numbers on the 3849 it comes out that they get a REFUND of $10,000. I understand that if they had actually paid the IRS the $14,000, the $10,000 refund would makes sense but this does not make sense to me. Basically they paid a small premium and CA is giving them $10,000. Does CA have any guidance on how to handle this situation. ---IRS forgives the overpayment and CA doesn't take that into consideration when calculating the amounts? ...

California 3849 Premium Assistance Subsidy Calculates HUGE refund TP paid $2/mo

[Source: Message Board • 05/22/2021] | By: Anonymous
...ubsidy. California Form 3849 is calculating a $19,008 refund due to the client.  AGI is $88,612 and household size is 2.  So, California is indicating the borrower should have a monthly contribution amount of $1217.  11A shows $24,879, 11b shows $33,612, 11c shows $14,604, 11d shows zero, 11e shows $19,008, 11f shows $19,008. It seems that ordinarily, the IRS would have required repayment in full since the borrower's income exceeded 400% of the federal poverty line.  But, d...

Who are "dependents" for FTB 3849

[Source: Message Board • 05/06/2021] | By: Doug Thorburn
...ce Subsidy (PAS) on Form 3849? If we include the kids' income, the parents get no PAS. If we do NOT include the kids' income, they get a $13,000 PAS. If we include the lower income kid only, their PAS is $10,000. This is without allocating any of the premiums to the kids. We have spent two hours going through the fed and state instructions and pubs and, as you can see, got nowhere. The instructions and pubs are byzantine. PASs are a PIA. ...
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California’s health insurance subsidies

[Source: California Taxletter • 05/01/2021] | By: Sandy Weiner, J.D.
...st check the box on Form 3849, Premium Assistance Subsidy, line 28, in this situation. Are California subsidies affected if there are no federal repayments? This is a huge issue this year, especially for those taxpayers who received substantial amounts of unemployment insurance, which frequently exceeded their projected income on which the advanced Premium Tax Credits were based. Rather than having to pay back the thousands of dollars of advance Premium Tax Credits they received, the ARPA is e...

1095-a and CA 3849

[Source: Message Board • 04/27/2021] | By: Anonymous
...I use Pro Systems.  I input the 1095-a which has Part III  - col a - $15,483, col b - $14,734 and col c - $13,584.  The federal return calculates correctly and shows that they do not owe back the PTC (even though they are over the threshold for the federal poverty line). I then input form 3895 and check the box in the software that this is indeed form 3895.  The 3895 is exactly the same as the 1095-a except there are zero monthly advance payments (col c).  By doing this...

Form 8962 (Fed - premium tax credit) and Form 3849 (CA-Premium Assistance Sub)

[Source: Message Board • 04/23/2021] | By: Anonymous
...oes anybody know if Form 3849 will be revised because taxpayers do not have to pay back the advance premium tax credit to Federal? I have a situation where taxpayers are supposed to pay back $15,686 to Federal and receive a refund of $13,333 from California for the premium assistance subsidy. Because of the change in the American Rescue Plan Act, they no longer have to pay back the $15,686. However, CA tax return still shows $13,333 of refund. That does not look right to me because they did not ...

Premium Assistance Repayment and CA Form 3849

[Source: Message Board • 04/23/2021] | By: Anonymous
...t calculation on CA Form 3849, line 11, column D? ...

CA Form 3895

[Source: Message Board • 04/20/2021] | By: Marti Napier
...believe is a big CA Form 3849 error on Lacerte software. My 2 hour telephone call on April 13 was ignored by low level staff and not referred to programing errors. Since the elimination of the Federal repayment of excess advance payment of the premium tax credit, Lacerte enters on CA Form 3849, line 11, col (d) -0- thereby generating an $8k refund when the federal AGI is $110k and the CA AGI is $90k. The federal Form 8962 clearly answers line 6 YES which should have created the repayment of the ...

Refund on form 3849

[Source: Message Board • 04/18/2021] | By: Anonymous
...d to repay $17o per form 3849.  I get this. After applying the American Rescue Act Provisions, my client has zero repayment per form 8962 and has a CA refund of $16,690 calculated on form 3849. The monthly premium was $2,468 and the federal advance payment of PTC was $1,974 and CA was $30.  They had to pay $464 per month. It doesn't seem correct they would receive more than they paid out of pocket as a refund.  I use Lacerte and I have no diagnostics for this.  Column D on...