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There are two ways to get the credit If you qualify for advance payments of the premium tax credit APTC you can choose to have amounts paid directly to the insurance provider to help cover your
The Premium Tax Credit is a refundable tax credit designed to help eligible individuals and families with low or moderate income afford health insurance purchased through the Health Insurance Marketplace also known as the Exchange The size of your Premium Tax Credit is based on a sliding scale
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For tax years 2021 and 2022 the American Rescue Plan of 2021 ARPA temporarily expanded eligibility for the premium tax credit by eliminating the rule that a taxpayer is not allowed a premium tax credit if his or her households income is above 400 of the Federal Poverty Line
You can choose to receive the entire benefit when you claim the PTC on your tax return However whether you chose to get advanced payments or claim the credit on the tax return you must file a federal income tax return even if otherwise not required to file and include a completed Form 8962 Premium Tax Credit
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This tool will get you the information you need to file your taxes by figuring out your premium tax credits
It is 33 130 for a family of four living in Alaska and 30 480 for a family in Hawaii It s a bit surprising how much money you can make and still qualify for the credit said Tom Gibson
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https://www.irs.gov/affordable-care-act/...
The Premium Tax Credit is a refundable tax credit designed to help eligible individuals and families with low or moderate income afford health insurance purchased through the Health Insurance Marketplace also known as the Exchange The size of your Premium Tax Credit is based on a sliding scale
https://www.healthcare.gov/taxes
Use Form 1095 A to complete IRS tax Form 8962 and reconcile your 2023 premium tax credit when you file your 2023 taxes if you qualified for or used the premium tax credit Once you do you may Owe taxes if you used more of the premium tax credit
The Premium Tax Credit is a refundable tax credit designed to help eligible individuals and families with low or moderate income afford health insurance purchased through the Health Insurance Marketplace also known as the Exchange The size of your Premium Tax Credit is based on a sliding scale
Use Form 1095 A to complete IRS tax Form 8962 and reconcile your 2023 premium tax credit when you file your 2023 taxes if you qualified for or used the premium tax credit Once you do you may Owe taxes if you used more of the premium tax credit
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