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ACA Tax Training Webinar Part II: Advance Certification Topic

Premium Tax Credits

In this webinar, presented on November 2, 2015, Tara Straw, Senior Health Policy Analyst at CBPP, covers the Advanced Certification topic of the premium tax credit (PTC). The PTC provides significant financial assistance to many families who purchased coverage in the health insurance marketplace. The webinar discusses how to calculate the final credit on the tax return and handle some of the common problems taxpayers encountered last year with Form 1095-A.

This is the second session in a webinar series “ACA: What Tax Preparers Need to Know” that explains what volunteer tax preparers, outreach partners and others need to know about the Affordable Care Act to complete 2015 tax returns and to assist low-income tax clients. 

Presentation Slides

View slide deck PDF.

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What is the Premium Tax Credit?

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Definition of the premium tax credit (PTC)

Eligibility criteria for PTCs (video section, slides)

Repayment limits on advance payments of PTCs (APTCs) (video section, slides)

Failure to reconcile PTC for 2014 (video section, slides)

 

Form 1095-A

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Form 1095-A

Corrections to Form 1095-A (video section, slides)

 

Form 8962

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Form 8962

 

Determining if a Tax Return is in Scope

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Who must file Form 8962 (video section, slides)

Determining whether a tax return is in scope (video section, slides)

 

Common Problems

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Married filing separately (video section, slides)

Income over 400% FPL (video section, slides)

Large repayments of APTCs (video section, slides)

Duplicate months of Forms 1095-A/B/C (video section, slides)

 

Example

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Example: Single filer, partial year coverage

  • 1095-A
  • Reconciling the PTC: Form 8962
  • Exemptions: Form 8965
  • Calculating the shared responsibility payment for months uninsured

 

Q&A

Additional Resources