I apologize up front for the long post , what a mess I have . My wife and I are retired and have an ACA health plan/insurance . The plan we are on now is quite good , the one we were on last year SUCKED !!! Long story short my wife's ONE kidney stone ended up costing us $20,000.00 out of pocket for what the health insurance wouldn't cover .
So we dipped into our nest egg because that's what it is for along with buying toys
. Anyway when we had our taxes done this year it turns out we owe $8,000.00
because we went over the 67K max you can make per ACA rules . Because ACA is subsidized by the government anything over 67K they want their sudsidy back . Unfortunately I did not know that ........... I know it now !
So in theory my wife and I qualify for each of us to receive a stimulus check , but we don't believe we will receive them because we owe the IRS . I " think " our checks will go to pay down our balance does anyone know if that is correct ? Because of the pandemic payment to the feds has been pushed back to July . How can I find out between now and then if my " owed " balance is less than the 8K ? Just rough numbers two stimulus checks @ 1200.00 = 2400.00 , subtract 2400.00 from 8K we should owe aprox. 5600.00 . But how to confirm this ? I'm not sure a call to the IRS is wise if you know what I mean
. Help from the smart folks please
