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Instructions Form 1651 0012

Instructions Form 1651 0012

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going over IRS form 8962 premium tax credit so this tax credit is available to certain families who participate in the health care exchange receive a a form 1095-a from The Exchange and qualify for a premium tax credit that helps offset the cost of that insurance so uh generally speaking the tax credit the intent of the healthcare exchange is that taxpayers with an average annual or household income at that is less than 400% of the federal poverty line should be entitled to a full tax credit on their health insurance and uh this is a refundable tax credit so if you qual qualify for a premium tax credit but it's more than your tax liability you can't actually uh get a tax refund for it so uh sometimes people can qualify for what's known as an advanced payment of the premium tax credit so if you get that upfront to help offset the cost of insurance throughout the the the tax year then you would file IRS form 8962 to reconcile the amount of the credit that you alre

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