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.

September 2017
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Upcoming Tax Dates

September 5 — Everyone
Federal Holiday (Labor Day) Details

September 10 — Communications and air transportation taxes under the alternative method.
Deposit the tax included in amounts billed or tickets sold during the first 15 days of August.

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

September 14 — Regular method taxes
Deposit the tax included in amounts billed or tickets sold during the last 16 days of August.

September 15 — Individuals
Make a payment of your 2017 estimated tax if you are not paying your income tax for the year through withholding (or will not pay in enough tax that way). Use Form 1040-ES. This is the third installment Details

September 15 — S Corporations
File a 2016 calendar year income tax return (Form 1120S) and pay any tax due. This due date applies only if you timely requested an automatic 6-month extension Details

September 15 — Partnerships
File a 2016 calendar year return (Form 1065). This due date applies only if you were given an additional 5-month extension Details

September 15 — Corporations
Deposit the third installment of estimated income tax for 2016 Details

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

September 15 — Nonpayroll withholding
If the monthly deposit rule applies, deposit the tax for payments in August.

September 27 — Communications and air transportation taxes under the alternative method.
Deposit the tax included in amounts billed or tickets sold during the last 16 days of August.

September 29 — Regular method taxes
Deposit the tax for the first 15 days of September.

September 29 — Regular method taxes (special September deposit rule)
Deposit the tax for the period beginning September 16 and ending September 26.

September 29 — Communications and air transportation taxes under the alternative method (special September deposit rule).
Deposit the tax included in amounts billed or tickets sold during the period beginning September 1 and ending September 11.

September 30 — Wagering tax
File Form 730 and pay the tax on wagers accepted during August.

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