HCTC Questions?

Tighe, Kress & Orr.

Posted By: Tighe, Kress & Orr.

Do you have questions about health coverage tax credits (HCTCs)? The IRS recently posted common questions and answers (Q&As) on its website to inform interested parties about advance payments of HCTCs for 2018. The HCTC is a refundable income tax credit for eligible individuals to help reduce the cost of certain coverage. The credit is equal to 72.5% of the amount taxpayers pay for “qualified health insurance.” It may be available in advance monthly payments as premiums become due. For details about eligibility and coverage, read more here: http://bit.ly/2EtBnpo

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