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Other Credits

Question: What is the health coverage tax credit and how can I learn more about it?

Answer:

The health coverage tax credit (HCTC) is a refundable tax credit that pays 72.5% of qualified health plan premiums for eligible Trade Adjustment Assistance (TAA) recipients, alternative TAA recipients, eligible reemployment TAA recipients, Pension Benefit Guaranty Corporation (PBGC) payees, and their families. Qualifying family members are the individual's spouse and any dependent for which the individual is entitled to claim a dependency exemption. However, for divorced or separated parents, you must be the child's custodial parent for your child to be treated as your qualifying family member for the HCTC. Qualifying family members can continue to receive the HCTC for up to 24 months in the event that the TAA, ATAA, or RTAA recipient or PBGC payee dies or finalizes a divorce with them. The HCTC expires after December 31, 2019. For more information, see Health Coverage Tax Credit.

Additional Information:


Category: Childcare Credit, Other Credits
Subcategory: Other Credits

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The OMB number for this study is 1545-1432.
If you have any comments regarding this study, please write to:
IRS, Tax Products Coordinating Committee
SE:W:CAR:MP:T:T:SP
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