Get the free Form 8885
Show details
Use Form 8885 to figure the amount, if any, of your health coverage tax credit (HCTC) for the tax year 2009, applicable for TAA, ATAA, RTAA recipients, or PBGC pension recipients.
We are not affiliated with any brand or entity on this form
Get, Create, Make and Sign form 8885
Edit your form 8885 form online
Type text, complete fillable fields, insert images, highlight or blackout data for discretion, add comments, and more.
Add your legally-binding signature
Draw or type your signature, upload a signature image, or capture it with your digital camera.
Share your form instantly
Email, fax, or share your form 8885 form via URL. You can also download, print, or export forms to your preferred cloud storage service.
Editing form 8885 online
Use the instructions below to start using our professional PDF editor:
1
Set up an account. If you are a new user, click Start Free Trial and establish a profile.
2
Simply add a document. Select Add New from your Dashboard and import a file into the system by uploading it from your device or importing it via the cloud, online, or internal mail. Then click Begin editing.
3
Edit form 8885. Replace text, adding objects, rearranging pages, and more. Then select the Documents tab to combine, divide, lock or unlock the file.
4
Get your file. Select the name of your file in the docs list and choose your preferred exporting method. You can download it as a PDF, save it in another format, send it by email, or transfer it to the cloud.
It's easier to work with documents with pdfFiller than you can have believed. You can sign up for an account to see for yourself.
Uncompromising security for your PDF editing and eSignature needs
Your private information is safe with pdfFiller. We employ end-to-end encryption, secure cloud storage, and advanced access control to protect your documents and maintain regulatory compliance.
How to fill out form 8885
How to fill out Form 8885
01
Download Form 8885 from the IRS website.
02
Begin by filling out your personal information in the designated fields including your name, address, and Social Security number.
03
Indicate the tax year for which you are filing the form.
04
Follow the instructions to report the amount of the premium tax credit you are claiming.
05
Fill out any applicable sections regarding insurance coverage and eligibility.
06
Review the form for accuracy and completeness.
07
Sign and date the form before submitting it with your tax return.
Who needs Form 8885?
01
Individuals who purchased health insurance through the Health Insurance Marketplace and are claiming the premium tax credit.
02
Taxpayers who are required to reconcile their advance premium tax credits.
03
Anyone who had health coverage through a Marketplace and suffered a change in circumstances that affects their credit eligibility.
Fill
form
: Try Risk Free
People Also Ask about
What is 8885?
Form 8885 - Health Coverage Tax Credit. The Health Coverage Tax Credit (HCTC) is a tax credit that pays 72.5% of qualified health insurance premiums for eligible individuals and their families.
How long will the premium tax credit last?
As part of the American Rescue Plan Act of 2020, Congress increased the ACA marketplace premium tax credits (PTCs) to ensure that Americans had access to affordable health insurance during the pandemic. In 2022, Congress extended these enhanced tax credits through 2025 as part of the Inflation Reduction Act.
What is the highest income to qualify for ACA?
If your estimated income falls between 100% and 400% of the federal poverty level for a household of your size, and you purchase health insurance through the national Health Insurance Marketplace, you may be eligible for the Premium Tax Credit (PTC).
Will the enhanced premium tax credit be extended?
Authorized originally by the American Rescue Plan Act, the enhanced PTCs were later extended by the Inflation Reduction Act through December 2025.
What is the tax form for health benefits?
If anyone in your household had a Marketplace plan in 2024, you should get Form 1095-A, Health Insurance Marketplace ® Statement, by mail no later than mid-February. It may be available in your Marketplace account anytime from mid-January to February 1. Notice: You must have your Form 1095-A before you file.
Will ACA subsidies be extended past 2025 USA?
Enhanced subsidies for Affordable Care Act (ACA) Marketplace plans are set to expire at the end of 2025, unless they are renewed by Congress.
Who is eligible for the health coverage tax credit?
To be eligible for the premium tax credit, your household income must be at least 100 percent and, for years other than 2021 and 2022, no more than 400 percent of the federal poverty line for your family size, although there are two exceptions for individuals with household income below 100 percent of the applicable
What makes you eligible for a tax credit?
An offer of employer-sponsored coverage generally makes an employee ineligible for a premium tax credit. The exception is if the employer-sponsored coverage is unaffordable or fails to meet the minimum value standard.
Is the health coverage tax credit expired?
The HCTC has a sunset date of January 1, 2022. The health coverage tax credit (HCTC) expired on January 1, 2022. For reference purposes, this report provides a discussion of key features and program administration of the HCTC when the credit was in effect.
Which is a requirement for the taxpayer to qualify for the premium tax credit?
You're at least 18 years old or have a qualifying child. Have earned income of at least $1 and not more than $31,950. Have a valid Social Security Number or Individual Taxpayer Identification Number (ITIN) for you, your spouse/RDP, and any qualifying children.
For pdfFiller’s FAQs
Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
What is Form 8885?
Form 8885 is a tax form used to claim the Health Coverage Tax Credit (HCTC) for eligible taxpayers who are receiving certain payments such as Trade Adjustment Assistance (TAA) or Pension Benefit Guaranty Corporation (PBGC) benefits.
Who is required to file Form 8885?
Individuals who are eligible to claim the Health Coverage Tax Credit must file Form 8885. This includes taxpayers who receive qualified payments under TAA or PBGC and who meet other eligibility requirements.
How to fill out Form 8885?
To fill out Form 8885, you must provide your personal information, indicate the qualifying health coverage, provide details about the payments you are eligible for, and calculate the amount of the credit you are claiming based on your coverage and payment information.
What is the purpose of Form 8885?
The purpose of Form 8885 is to allow eligible individuals to claim the Health Coverage Tax Credit, which helps offset the cost of health insurance premiums for those who qualify.
What information must be reported on Form 8885?
Form 8885 requires reporting personal information such as your name and Social Security Number, details about your qualified health coverage, any eligible payments you receive, and calculations of the tax credit based on these figures.
Fill out your form 8885 online with pdfFiller!
pdfFiller is an end-to-end solution for managing, creating, and editing documents and forms in the cloud. Save time and hassle by preparing your tax forms online.
Form 8885 is not the form you're looking for?Search for another form here.
Relevant keywords
Related Forms
If you believe that this page should be taken down, please follow our DMCA take down process
here
.
This form may include fields for payment information. Data entered in these fields is not covered by PCI DSS compliance.
