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With Form 8962, you are reconciling the tax credit you are entitled to with any advance credit payments (or subsidies) for the tax year. The size of your tax credit depends on the cost of ...
The IRS introduced several new forms connected with the Premium tax credit (PTC): Form 8962, the Premium Tax Credit (PTC) must be filed with a 1040 income tax return by individuals who already received advance subsidies through a healthcare exchange. The form was released by the IRS on November 17, 2014, without accompanying instructions.
The IRS noted that some Economic Impact Payments from 2021, which were advance payments of the 2021 Recovery Rebate Credit, may still be in the mail but the IRS is no longer issuing payments as ...
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The IRS said it's sending the payments automatically to about 1 million people who filed tax returns and who qualified for the recovery rebate credit yet didn't claim it.
If you were eligible for the first $1,200 stimulus payment under the CARES Act and now the second $600 direct payment under the new relief bill, the tracking tool will show the status of both.
Both the third round of stimulus checks and the plus-up payments paid out in 2021 were considered advance payments of the 2021 recovery rebate credit that need to be claimed on a 2021 tax return.
The IRS plans to issue automatic “special payments” of up to $1,400 to 1 million taxpayers starting later this month, the agency announced last week. IRS plans to pay 1 million taxpayers up to ...