Affordable Care Act

WHAT IS THE PREMIUM TAX CREDIT?

The premium tax credit is a refundable tax credit designed to help eligible individuals and families better afford health insurance purchased through the Marketplace. You can choose to have the credit paid in advance to your insurance company to lower what you pay for your monthly premiums or you can claim all of the credit when you file your tax return. Book an appointment with our tax preparation experts see if you qualify.

TRANSFORMING HEALTHCARE TAXES

The Affordable Care Act introduced a collection of new marketplaces that offer insurance options based on a system that ranges from Bronze to Platinum. The two most significant changes that come with ACA are in the form of Advance Premium Credit Tax and Penalties.

Once you have enrolled in any eligible Marketplace, you will be asked a series of questions to determine if you qualify for The Advance Premium Tax Credit. If so, this will help offset the cost of your monthly premiums.

WHAT IS ADVANCED PREMIUM TAX CREDIT?

It’s a tax credit that you can apply to what you pay each month for your health care plan. Because of the Affordable Care Act, if you buy your own health insurance you can get financial assistance to lower your costs. This assistance is called a subsidy.

There are two kinds of subsidies: the Advanced Premium Tax Credit and Cost Sharing Reduction. The Advanced Premium Tax Credit goes toward your health insurance premium—what you pay each month to maintain your health coverage.

PENALTIES AND EXEMPTIONS

If you, and/or members of your family did not have adequate health insurance during the year, you may be subject to facing a tax penalty. However, you could qualify for an exemption based on a number of things. Make your way to the closest ATC Tax Office and speak to one of our tax preparation experts to learn more about these exemptions.

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We always aim for maximum refund especially for you and your family.

Schedule an appointment with our ATC tax preparations experts for them to assist you and claim Child Tax Credit on your tax return.

Visit your nearest ATC location.
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#atcincometax

We always aim for maximum refund especially for you and your family.Schedule an appointment with our ATC tax preparations experts for them to assist you and claim Child Tax Credit on your tax return.Visit your nearest ATC location.
https://t.co/HHlrhabicE#atcincometax

Did you know that one can elect to take the flat standard deduction – which is based on your filing status – or elect to take itemized deductions?

Let our #ATC #tax preparation experts guide you toward the deduction that is most beneficial and suits your tax profile best.

Did you know that one can elect to take the flat standard deduction – which is based on your filing status – or elect to take itemized deductions?Let our #ATC #tax preparation experts guide you toward the deduction that is most beneficial and suits your tax profile best.

#ATC still aims to find more ways to add value for our clients by expanding our product offerings.

Whether its refund transfer, #tax advance, #taxloans, or just questions and clarifications with regard to #taxes.

Customers come first with ATC. 💯

#ATC still aims to find more ways to add value for our clients by expanding our product offerings.Whether its refund transfer, #tax advance, #taxloans, or just questions and clarifications with regard to #taxes.Customers come first with ATC. 💯

ATC Tax Tip:

File and pay on time.

If you can’t finish your return on time, make sure you file Form 4868 by April 15, 2020. Form 4868 gives you a six-month extension of the filing deadline until October 15, 2020.

#atcincometax #taxrefund #incometaxes #taxreturn #taxes

ATC Tax Tip:File and pay on time.If you can’t finish your return on time, make sure you file Form 4868 by April 15, 2020. Form 4868 gives you a six-month extension of the filing deadline until October 15, 2020.#atcincometax #taxrefund #incometaxes #taxreturn #taxes

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Stay connected with ATC Income Tax! 📲

#atcincometax #taxrefund #incometaxes #taxreturn #taxes #money #taxbill

Subscribe to our free ATC newsletter and receive the latest updates, news, and special announcements in the world of money and taxes.Stay connected with ATC Income Tax! 📲#atcincometax #taxrefund #incometaxes #taxreturn #taxes #money #taxbill

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