Tag Archives: Form 8962
Under IRC section 36B, eligible individuals who purchase health insurance through a Health Insurance Exchange may claim a Premium Tax Credit on form 8962. Among the various requirements, the tax credit is based on whether a taxpayer claims a personal exemption deduction under IRC section 151 for the taxpayer, the taxpayer’s spouse, and any dependents […]
— Read moreBig changes may await the Affordable Care Act in 2017, however all requirements and provisions in relation to taxes remain relevant for 2016 returns. As tax season begins, the Form 1095-A, Health Insurance Marketplace Statement will play an important role when you file your tax return. You should also be aware that this tax year […]
— Read moreThis year, income tax time can become quite a headache if you’re not familiar with the health insurance requirements. The Affordable Care Act, also called Obamacare, affects just about every American at tax time. This is due to a mandate that requires every taxpayer to have health insurance, along with a subsidy to help lower […]
— Read moreBefore you file your 2014 federal taxes, you should be aware of how the Affordable Care Act will impact your return. Depending on if you have health care coverage and where you received it from, you may notice a larger impact this tax season. Many taxpayers have healthcare coverage through their employers, government provided plans […]
— Read moreThe tax season is rapidly approaching, and it’s as good a time as any for taxpayers to make sure they understand the relationship between their health insurance tax credit and the two tax forms which help calculate the amount of credit an individual is due. For 8962 (Premium Tax Credit) and Form 1095-A (Health Insurance […]
— Read moreAny individual who bought a health care plan through the Health Insurance Marketplace can expect to find a Health Insurance Marketplace Statement, also known as a Form 1095-A, in their mailbox by January 31,2015. Many Americans have chosen to take a premium tax credit in advance, which will help subsidize their monthly premiums. This credit […]
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