Tax Facts

8854 / How does an eligible taxpayer obtain the premium assistance tax credit?

When a taxpayer applies for health coverage through an exchange, the exchange itself estimates the amount of credit that the taxpayer may be eligible to claim. The taxpayer then determines whether to apply the credit in advance (meaning that it is sent directly to the insurance company in order to offset premium payments) or retroactively (meaning that the taxpayer claims the premium credit on...

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