Guidance on the Health Coverage Tax Credit

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Guidance on the Health Coverage Tax Credit

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Guidance on the Health Coverage Tax Credit

The IRS has issued Notice 2016-02 to provide information regarding the health coverage tax credit, or HCTC. The 14-page notice explains who can claim the HCTC, the amount of the credit, and the procedures to claim the credit for tax years 2014 and 2015.

This notice also provides guidance for taxpayers eligible to claim the HCTC who enrolled in a qualified health plan offered through a Health Insurance Marketplace in tax years 2014 or 2015, and who claimed or are eligible to claim the premium tax credit under section 36B.

To learn more about ACA compliance in 2020, click here.

For any questions or a consultation on the ACA or IRS Letter 226J, contact Gregg Kasubuchi of Trusaic at (213) 355-5108 or at gkasubuchi@trusaic.com.

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Robert Sheen

Esq., is editor-in-chief of The ACA Times. He also is founder, president and CEO of Trusaic.

Robert Sheen is Founder and President of Trusaic. Robert is a graduate of the University of Southern California, in Business Administration with an emphasis in International Finance. He earned his Juris Doctor from Loyola Law School, Los Angeles, concentrating in Tax Law.

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