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form 8962

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Cat. No. 37784Z Form 8962 2018 Page Allocation of Policy Amounts Complete the following information for up to four policy amount allocations. Form OMB No. 1545-0074 Premium Tax Credit PTC Department of the Treasury Internal Revenue Service Name shown on your return Attach to Form 1040 or Form 1040NR. Go to www.irs.gov/Form8962 for instructions and the latest information. Attachment Sequence No. 73 Your social security number You cannot take the PTC if your filing status is married filing...
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Comments and Help with form 8962
If you were hired to work full- or part-time, fill out the “work” or “employed” employment code. If not, indicate the following. Do you have any of the following benefits? No Yes Are you an immediate or dependent caregiver for someone else? Do you work in the following occupation? Agriculture, forestry, fishing, and hunting Arts, entertainment, sports and media. Construction Sales and production Computer and mathematical occupations Office and administrative support; personal care and service Farming, fishing, and forestry Farming, fishing, and forestry Construction Arts, entertainment, sports and media. Agriculture, forestry, fishing, and hunting Construction Sales and production Computer and mathematical occupations Government, defense, and public administration; related fields Education; related fields Public administration Tourism and recreation Arts, entertainment, sports and media. Agriculture, forestry, fishing, and hunting Other. Please note: Do not use Form 8962 to include a check to be used for the employer provided education tax credit as well as or in addition to the refundable portion of the credit. The use of a separate Form 8962 for employer provided education tax credits and the refundable portion of the credit is discouraged. The use of a Form 8962 for an individual providing tax relief for the child or other dependent for whom the individual is filing his or her tax return is acceptable. However, if filing one return for yourself and another return for your child, you must attach both to a single Form 8962. Include an itemized statement identifying the child on each return for yourself and your child. On lines 21, 22(c), and 23(b) of Form 8962, complete “J” for Jogger, Jogger-Dependent, or Jogger-Pregnant, as applicable. Incentive credit. If you are a U.S. taxpayer, and you are claiming the employment tax credit, you may also be eligible to claim up to 4,000 in the form of an employment tax credit from the U.S. Department of Labor. This credit is not subject to the 2-year period limitation. See The Employment Tax Credit, later. Incentive credit available to U.S. taxpayers only. For more information on the employment tax credit, see The Employment Tax Credit, later. Are you an immediate or dependent caregiver to someone else? If you are a U.S.

What is Form 8962 2021?

Tax Form 8962 (also known as Premium Tax Credit Form) serves to claim the premium tax credit (PTC). PTC is a refundable credit that helps eligible individuals and families with low or moderate income afford health insurance purchased through a Health Insurance Marketplace. The purpose of Form 8962 is for the taxpayer to figure out the amount of (Premium Tax Credit) and reconcile it with advance payment of the premium tax credit (APTC).

Who should file the IRS Form 8962 2021?

Individuals must fill out an 8962 Form if they filed the Form 1040, Form 1040A, or Form 1040-NR, and if either of the following conditions applies:

  • The individual is taking the PTC.
  • APTC (Advanced Premium Tax Credit) was paid for the taxpayer or another individual in the taxpayer’s tax family.
  • APTC was paid for an individual, including the taxpayer for whom the taxpayer told the Marketplace that he or she would claim a personal exemption, and neither the taxpayer nor anyone else claims a personal exemption for that individual.

For more information on who can qualify for PTC, check out IRS Form 8962 instructions.

What information do you need when you file IRS Tax Form 8962?

The taxpayer has to indicate the following information:

  • Name of the taxpayer
  • Social Security Number
  • Annual and monthly contribution amount
  • Premium tax credit claim and reconciliation of advance payment of premium tax credit
  • Repayment of excess advance payment of the premium tax credit
  • Allocation of policy amounts
  • The alternative calculation for the year of marriage.

When completing Tax Form 8962, you’ll need to refer to other forms as well. For instance, you’ll need to use your 1095-A form to complete Part II.

How do I fill out the Tax Form 8962 in 2022?

You can get the form along with the form 8962 instructions at the IRS official website or use a reliable platform, like pdfFiller, where you can fill out, eSign, send or download it.

Follow these steps to fill out the form with pdfFiller:

  1. Click Get Form to open it in the editor.
  2. Once opened, follow the green tag pointing at the required fields and start completing each of them step by step.
  3. Go through the document and check it for errors or discrepancies.
  4. Click Done to finish the process.
  5. Select the option to send the completed Form 8962 USPS or download it to your laptop.

Is Form 8962 accompanied by other forms?

IRS form 8962 must be attached to forms 1040, 1040A, or 1040NR. While completing the form, the taxpayer will need the 1095-A form, Health Insurance Marketplace Statement.

Where do I send Tax form 8962?

The completed form together with individual tax returns is forwarded to the local IRS office or filed electronically.

When is Form 8962 due?

The Premium Tax Credit Form 8962 must be filed with the IRS together with the individual tax return forms. The general filing date for an individual tax return is April 15th.

Video instructions and help with filling out and completing form 8962
Instructions and Help about form 8962 premium tax credit
Form 8962 or the premium tax credit is used to calculate the amount of premium tax credit you're eligible to claim if you paid premiums for health insurance purchased through the health insurance marketplace claiming the premium tax credit may reduce your tax liability for the calendar year make sure to only use secure channels to fill out and submit your form you can either download your copy from the IRS website or get the current revision of form 8962 that you can edit sign and submit electronically at pdffiller.com form 8962 is a two-page form split into five parts start by filling out your name and social security number proceed to part one to indicate your annual and monthly contribution amounts using your family size modified adjusted gross income and household income in line one enter the number of exemptions indicated in form 1040 or form 1040a use lines 2a and 2b to provide your modified AGI enter your household income in line 3 by adding the amounts stated in lines 2a and 2b select the appropriate choice and enter the value in line 4. To make the calculations needed to complete lines 5 through 8 see the IRS instructions for form 8962 in part 2 you will need to reconcile your advanced premium tax credit received with monthly premium amounts select the appropriate option in lines 9 and 10. In line 11 fill the annual totals in the table in lines 12 through 23 fill out the monthly amounts under each column indicate the total tax premium credit on line 24 and the advanced payment of PTC on line 25. Follow the instructions to calculate the net premium tax credit and indicated in line 26. In part 3 you will need to calculate any excess advanced payment of PTC based on the information you provided in part two in line 27 enter the excess advanced payment of pt center the repayment limitation in line 28 use line 29 to provide the excess advance premium tax credit repayment in part four you will need to allocate policy amounts part five is used for alternative calculations for years married use IRS form 1095-a to complete each section of the form as well as your form 1040 which shows your modified adjusted gross income once all the fields are completed and checked off you can save the resulting document to your device print it out or email it to your recipient in one click good luck and don't forget to submit your form 8962 before the due date established by the IRS.
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