The premium tax credit is a credit for certain people who enroll, or whose family member enrolls, in a qualified health plan offered through a Marketplace. The credit provides financial assistance to pay the premiums by reducing the amount of tax you owe, giving you a refund, or increasing your refund amount.

You must file Form 8962 to compute and take the PTC on your tax return.

You can take the PTC for 2014 if you meet all of these conditions.

For at least one month of the year, all of the following were true:

  • An individual in your tax family was enrolled in a qualified health plan offered through the Marketplace.
  • The individual was not eligible for minimum essential coverage, other than coverage in the individual market.
  • The portion of the enrollment premiums for the month for which you are responsible was paid by the due date of your tax return.

To be an applicable taxpayer, you must meet all of the following requirements:

  • For 2014, your household income is at least 100 percent but no more than 400 percent of the Federal poverty line for your family size.
  • No one can claim you as a dependent on a tax return for 2014.
  • If you were married at the end of 2014, you must generally file a joint return. However, filing a separate return from your spouse will not disqualify you from being an applicable taxpayer if you meet certain requirements.

For more information, see the instructions for Form 8962, Premium Tax Credit (PTC) on IRS.gov/aca.

Find out if you can claim the Premium Tax Credit by answering easy questions, then file your IRS return free with TaxAct Free Federal Edition. Get started now.

To learn more about the Premium Tax Credit and all the tax implications of the Affordable Care Act, visit www.HealthcareACT.com, powered by TaxAct.

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Upcoming Tax Dates

October 9 — Everyone
Federal Holiday (Columbus Day) - Details

October 11 — Employees who work for tips
If you received $20 or more in tips during September, report them to your employer - Details

October 15 — Individuals
If you have an automatic 6-month extension to file your income tax return for 2017, file Form 1040, 1040A, or 1040EZ and pay any tax, interest, and penalties due - Details

October 15 — Corporations
File a 2017 calendar year income tax return (Form 1120) and pay any tax, interest, and penalties due. This due date applies only if you timely requested an automatic 6-month extension Details

October 15 — Partnerships
Electing large partnerships: File a 2017 calendar year return (Form 1065-B). This due date applies only if you were given an additional 6-month extension - Details

October 15 — Social security, Medicare, and withheld income tax
If the monthly deposit rule applies, deposit the tax for payments in September.

October 31 — Certain small employers
Deposit any undeposited tax if your tax liability is $2,500 or more for 2017 but less than $2,500 for the third quarter.

October 31 — Federal unemployment tax
Deposit the tax owed through 09-if more than $500.

October 31 — Social security, Medicare, and withheld income tax.
File Form 941 for the third quarter of 2018. Deposit or pay any undeposited tax under the accuracy of deposit rules .If your tax liability is less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax for the quarter timely, properly, and in full, you have until 11-10 to file the return.

View More Tax Dates