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.

Find an ATC office

ATC BONU$ Loan

Advance Tax Loan, up to $5001 No Credit Check. High Approvals.

Learn More

Stay Updated

Subscribe to our free newsletter and receive the latest updates.

Your information will not be published.

Don’t be the last to know about our tax updated tips!

Subscribe to our newsletter now

https://t.co/cSpfBZUeMj

Make sure you have a trustworthy partner!

Hire a tax service with experienced professionals who understand the new laws and how they impact you.

Learn more here: https://t.co/kvhXXGiNdn

Need help?

Find someone from the ATC team and have him double-check your income taxes today.

Click here to find a location near you. https://t.co/0zrnbDdHhj

When choosing an IRS Direct refund, it would take the IRS 10-21 days from the time your tax return has been electronically filed and accepted.

You can choose to receive it through direct deposit to bank, check via standard e-mail or deposit to your Insight Visa card.

When choosing an IRS Direct refund, it would take the IRS 10-21 days from the time your tax return has been electronically filed and accepted.  You can choose to receive it through direct deposit to bank, check via standard e-mail or deposit to your Insight Visa card.

Know the ins and outs of the 529 plan tax benefits, which differ depending on your state.

Tag us in the comments what state you’re in and we’ll be glad to assist you on this matter.

https://t.co/1WoYcJHkkh

This message is only visible to admins:
Unable to display Facebook posts

Error: Error validating application. Application has been deleted.
Type: OAuthException
Code: 190
Click here to Troubleshoot.