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Form Steps to Fill out Online 8962 IRS Washington: What You Should Know
The premium tax credit is subject to the income limits shown in the table at the end of this section. If you do not have enough adjusted gross income (AGI) to qualify for the credit, the credit does not apply to you. The credit is available for any calendar year at an amount equal to the amount above in 2017, and again in 2021. See the section titled “How the Premium Tax Credit Works” for more details. Eligibility for the premium tax credit is determined on an annual basis. For the 2023 premium tax credit, the amount available in 2023 is 3,780, and it is based on taxable income after the age of 39, adjusted by the highest of the following maximums (if higher than the 2023 amount, this applies to the remaining amounts): 3,700 for tax years 2023 through 2023 3,200 for tax years 2023 through 2022 If you do not meet these maximums, you can claim the credit for any calendar year, but must file a tax return with Form W-4, Wage and Tax Statement, with a new return if you have changed the amounts shown below since your last claim. All the minimum values shown apply when you file your tax return, not when you claim the credit. If you receive Form 1099-MISC for the previous calendar year, you may report the amount shown here. If you do not claim the premium tax credit in 2017, your return must be sent to the IRS by November 15 of the following year. If you do not file by November 15, then you may be subject to penalties. See the section titled “When Can I Claim the Premium Tax Credit?” about when you may make your return and claim the credit. Tax Year 2018 Number of Exemptions Amount 9,525 4,750 10, amount in 2023 1 9,515 9,515 10,515 Tax Year 2017 Number of Exemptions Amount 4,850 3,100 6, amount in 2023 1 4,845 4,845 6,800 For the tax year 2018, the refundable portion of the premium tax credit is 9,525, and the amount of tax imposed by the employer for the 2023 credit is 4,750. You also have to pay taxes for 2018. This is due at least 3 months after the pay period for filing your tax return for tax year 2018. For 2017, the pay period is March 31st.
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