Transcription of Affordable Care Act
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Affordable Care Act3-1 IntroductionThis lesson covers some of the tax provisions of the Affordable Care Act (ACA). You will learn how to deter-mine if taxpayers are eligible to receive the premium tax credit. A list of terms you may need to know is included at the end of the the 2019 tax year, the individual Shared Responsibility Payment (SRP) is reduced to zero. Taxpayers who do not have health insurance coverage during 2019 or later do not require an exemption to avoid the the end of this course, using your resource materials, you will be able to: Determine eligibility for the premium tax credit (PTC) Calculate the premium tax credit, if applicable Report taxpayers premium tax credit on the tax returnAffordable Care ActWhat do I need?
Federal Poverty Line (FPL) The federal poverty line (FPL) is an income amount adjusted for family size that is considered poverty level for the year. The U.S. Department of Health and Human Services (HHS) determines the FPL amounts annually and publishes a table reflecting these amounts at the beginning of each calendar year. You can
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