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Form Steps to Fill out Online 8962 IRS Connecticut: What You Should Know
Aug 26, 2023 — You can also claim the PTC if you: • had health insurance through this employer, • are a self-employed individual, or • have been covered by an employer. Form 8962 — IRS Premium Tax Credit (PTC) — IRS If your net earnings do not exceed the poverty level (10,856 this year or 16,242 for 2018), then you may be eligible for the premium tax credit and will get an annual credit of the excess of 2.5 percent over the amount you paid in premiums. The amount of the credit is the excess of the premiums you paid over the tax credit. If you have additional information to provide, provide only what you believe is relevant. Form 8962 — IRS The amount of the PTC is reduced each month if you pay more than the amount of the PTC as explained in the next question, which is shown in the “Interest Amount” section of the form. Questions and Answers on the Premium Tax Credit — IRS You may not apply for a premium tax credit until after you file a tax return on Form 1040, 1040-SR, or 1040-NR, whichever you file first. Form 8962 — IRS You will figure your premiums for 2023 by figuring your income (which is less than 100 percent of the poverty level), calculating your adjusted gross income, and then claiming the premium tax credit for the amount of the excess (0 to 6.25 percent of your income) over your income, as shown on the instructions for the form which are provided with the form (Form 8962). Question on Form 8962 — IRS Interest is calculated as of the date shown on the form. However, if you file a tax return on or before the interest due date in the year following the year in which you file your Form 8962, interest is calculated as of the date of filing if your tax return is filed electronically. Note. The PTC interest amounts for the 2023 and 2023 tax periods ended after December 31, 2016. 2022 Premium Tax Credit — IRS Annual Premium Tax Credit — IRS If you file Form. 8962, you get an annual premium tax credit of the excess of the 5 percent of your income over the amount you paid in premiums. The percentage you get depends on how much you paid from that income.
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