You may be receiving a check from the federal government!

In September the federal government announced two refunds being sent out to taxpayers, See if you qualify

Affordable Care Act Refund

On September 10th 2026, the federal government announced that the Working Families Obamacare Refund is available for some taxpayers who purchased ACA Marketplace Health Insurance during 2026. This refund is being sent out to taxpayers who purchased insurance at full cost and did not get premium tax credits. The refund is due to excess Healthcare.gov administrative user fees billed to consumers.  This is a refund of $500.00 and the taxpayer must apply to get the refund.  The following requirements for eligibility must be met:

Requirement Eligibility
Health insurance Purchased a 2026 ACA policy through the federal HealthCare.gov Marketplace
Premium tax credit Did not receive federal premium assistance
Income Generally higher-income individuals, although some lower-income unsubsidized enrollees also qualify
Residence One of the 30 states using the federal Marketplace
Payment amount $500 per eligible person
Application required No — payments are automatic

Tax implications

For tax preparation purposes, several distinctions are important:

  • The $500 is not a premium tax credit and is not claimed on Form 8962.
  • It is not the regular ACA medical loss ratio rebate that insurance companies sometimes issue.
  • The payment does not restore the enhanced premium tax credits that expired after 2025.
  • The IRS has not yet provided specific guidance confirming whether the $500 payment is taxable or whether it affects the calculation of deductible medical insurance premiums.

Retain the Treasury payment letter pending a definitive tax classification and further IRS guidance is available. However, under Treas. Reg. §1.36B-3(d)(1)(i)(A), enrollment premiums are reduced by amounts refunded in the same tax year, so a recipient who claims and/or reconciles the PTC on their 2026 Form 8962, Premium Tax Credit, reduces their premiums paid by $500.

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Medicare Part B Rebate

This rebate applies to certain Medicare Part B beneficiaries. There is no application to submit so if you qualify you will likely see a rebate check in your mailbox soon. This is a onetime rebate that is set to begin distributions in October 2026

End of Year Investment and Tax Check List

Investment Planning Ideas Before the Calendar Year Ends

As the year begins to wind down, it’s natural to look ahead to the holidays and prepare for the coming year. It’s also an ideal time to review your financial situation and determine whether there are year-end tax opportunities worth considering before December comes to a close.

 

While some tax strategies must be implemented before year-end, many people don’t begin reviewing their options until the last few weeks of December. Starting earlier provides more time to gather information, consult with financial and tax professionals, and make thoughtful decisions rather than rushing to meet deadlines.

Review Retirement Plan Contributions

Consider reviewing contributions to:

Employer-sponsored retirement plans

  • Traditional IRAs
  • Roth IRAs
  • SEP IRAs or SIMPLE IRAs, if applicable

If you are contributing through payroll deductions, increasing your contribution rate before year-end may allow you to make additional progress toward your retirement savings goals. Reviewing contribution limits early also gives you time to determine whether adjustments fit within your budget.

 

Evaluate Investment Activity

Investment activity throughout the year may have tax implications that are worth reviewing before December.

Questions to consider include:

  • Have I realized capital gains this year?
  • Have any investments declined in value?
  • Does my portfolio still align with my long-term objectives?
  • Should I discuss tax-loss harvesting with my advisor?

 

Tax-loss harvesting may be appropriate in certain situations, but it is subject to IRS rules and should be evaluated within the context of your overall financial plan.

Consider Charitable Giving

For many individuals and families, charitable giving is part of both their financial planning and personal values.

Planning gifts before year-end provides time to evaluate available strategies, which may include:

  • Cash contributions
  • Gifts of appreciated securities
  • donor-advised funds
  • qualified charitable distributions (QCDs) for eligible individuals

Review Required Minimum Distributions

If you are subject to required minimum distributions (RMDs), confirm that distribution requirements have been addressed before applicable deadlines.

Waiting until the end of December may increase the risk of administrative delays or missed deadlines, particularly if financial institutions experience higher processing volumes.

Reviewing RMD obligations early can also provide additional time to coordinate distributions with other aspects of your tax planning strategy.

Review Flexible Spending Account Balances

If you participate in a Flexible Spending Account (FSA). now is a good time to review your remaining balance.

Depending on your employer’s plan provisions, unused funds may be subject to forfeiture or limited carryover rules.

Understanding your plan’s deadlines can help you determine whether eligible healthcare expenses should be scheduled before year-end.

Verify Estimated Tax Payments *****

Individuals who are self-employed, receive significant investment income, or have other sources of income outside of regular payroll withholding may benefit from reviewing estimated tax payments.

Comparing estimated payments with projected income may help identify whether adjustments should be discussed with a qualified tax professional before the year concludes.

Organize Tax Documents

Preparing for tax season becomes much easier when documents are organized before January arrives.

Consider gathering:

  • Investment statements (Form 1099)
  • Charitable contribution receipts
  • Healthcare expense records
  • Retirement account information (Form SSA-1099, Pension statements (Form 1099)
  • Business expense documentation, if applicable

Organizing records throughout the year can simplify tax preparation and reduce the likelihood of overlooking important information.

Avoid Last-Minute Decisions

One of the most valuable aspects of early year-end planning is having time to make thoughtful decisions.

Waiting until the final days of December may limit available options and create unnecessary stress. Beginning the review process several weeks earlier allows time to evaluate strategies, ask questions, and coordinate with financial and tax professionals when appropriate.