1 Federal Register / Vol. 77, No. 100 / Wednesday, May 23, 2012 / Rules and regulations 30377. Controlling agency. FAA, Atlanta FOR FURTHER INFORMATION CONTACT: proposed rulemaking (REG 131491 10). ARTCC. Shareen S. Pflanz, (202) 622 4920, or was published in the Federal Register Issued in Washington, DC, on May 17, Andrew S. Braden, (202) 622 4960 (not (76 FR 50931). Written comments 2012. toll-free numbers). responding to the notice of proposed Ellen Crum, SUPPLEMENTARY INFORMATION: rulemaking were received. The Acting Manager, Airspace, regulations and comments are available for public Paperwork Reduction Act inspection at or on ATC Procedures Group. [FR Doc. 2012 12576 Filed 5 22 12; 8:45 am]. The collection of information request. A public hearing was held on contained in these regulations has been November 17, 2011.
2 After consideration BILLING CODE 4910 13 P. reviewed and approved by the Office of of all the comments, the proposed Management and Budget in accordance regulations are adopted as amended by with the Paperwork and Reduction Act this Treasury decision. The comments DEPARTMENT OF THE TREASURY (44 3507(d)) under control and revisions are discussed in the Internal Revenue Service number 1545 2232. preamble. The collection of information in these final regulations is in 5. The Explanation of Provisions and 26 CFR Parts 1 and 602 Summary of Comments information will help the IRS properly [TD 9590] reconcile the amount of the premium 1. Premium Tax Credit Definitions RIN 1545 BJ82 tax credit with advance credit payments made under section 1412 of the Patient a. Family Size Health Insurance Premium Tax Credit Protection and Affordable Care Act (42 The proposed regulations define a 18082).
3 The collection of taxpayer's family as the individuals for AGENCY: Internal Revenue Service (IRS), information is required to comply with whom a taxpayer claims a deduction for Treasury. the provisions of section 36B(f)(3) of the a personal exemption under section 151. ACTION: Final regulations . Internal Revenue Code (Code). An for the taxable year, which may include agency may not conduct or sponsor, and the taxpayer, the taxpayer's spouse, and SUMMARY: This document contains final dependents. The proposed regulations a person is not required to respond to, regulations relating to the health also clarify that the family includes a collection of information unless the insurance premium tax credit enacted individuals who are not applicable collection of information displays a by the Patient Protection and Affordable individuals under section 5000A(d) and valid control number assigned by the Care Act and the Health Care and thus are not subject to the penalty for Office of Management and Budget.
4 Education Reconciliation Act of 2010, as The estimated total annual reporting failing to maintain minimum essential amended by the Medicare and Medicaid burden is 250,000 hours. The estimated coverage. Extenders Act of 2010, the annual burden per respondent is 5,000 Commentators recommended Comprehensive 1099 Taxpayer hours. The estimated number of clarifying that the family also includes Protection and Repayment of Exchange respondents is 50. individuals who are exempt under Subsidy Overpayments Act of 2011, the Comments concerning the accuracy of section 5000A(e) from the requirement Department of Defense and Full-Year this burden estimate and suggestions for to maintain minimum essential Continuing Appropriations Act, 2011, reducing this burden should be sent to coverage. Accordingly, the final and the 3% Withholding Repeal and Job the Internal Revenue Service, Attn: IRS regulations clarify that a family may Creation Act.
5 These final regulations Reports Clearance Officer, include all individuals not subject to the provide guidance to individuals who SE:W:CAR:MP:T:T:SP, Washington, DC section 5000A penalty. enroll in qualified health plans through 20224, and to the Office of Management Some commentators disagreed with Affordable Insurance Exchanges and Budget, Attn: Desk Officer for the the rule in the proposed regulations that (Exchanges) and claim the premium tax Department of the Treasury, Office of a taxpayer's family includes a child only credit, and to Exchanges that make Information and Regulatory Affairs, if the taxpayer is allowed a dependency qualified health plans available to Washington, DC 20503. exemption deduction for the child. individuals and employers. Books or records relating to a Commentators suggested that taxpayers DATES: Effective Date: These regulations collection of information must be should be able to compute a premium are effective on May 23, 2012.
6 Retained as long as their contents may tax credit based on premiums for a child Comment date: Comments will be become material in the administration for whom the person is not allowed a accepted until August 21, 2012. of any internal revenue law. Generally, dependency exemption deduction. Applicability Date: For date of tax returns and return information are Section 36B(d)(1) defines the family as applicability, see 1(o). confidential, as required by 26 the individuals for whom the taxpayer ADDRESSES: Comments should be 6103. is allowed a personal exemption submitted to Internal Revenue Service, deduction under section 151. CC:PA:LPD:PR (REG 131491 10), Room Background Accordingly, the final regulations do not 5203, Box 7604, Ben Franklin This document contains final adopt these comments.
7 We note Station, Washington, DC 20044, or regulations that amend the Income Tax however, that the non-dependent child electronically to regulations (26 CFR part 1) under may be able to claim a premium tax (IRS REG 131491 10). Alternatively, section 36B relating to the premium tax credit if otherwise eligible. See . comments may be hand delivered credit. Section 36B was enacted by the 3(h). srobinson on DSK4 SPTVN1 PROD with RULES. between the hours of 8 and 4 Patient Protection and Affordable Care Monday to Friday to CC:PA:LPD:PR Act, Public Law 111 148 (124 Stat. 119 b. Requirement To File a Return for (REG 131491 10), Courier's Desk, (2010)), and the Health Care and Purposes of Household Income Internal Revenue Service, 1111 Education Reconciliation Act of 2010, Under section 36B, household income Constitution Avenue NW.
8 , Washington, Public Law 111 152 (124 Stat. 1029 includes the modified adjusted gross DC. All comments will be available for (2010)) (collectively, the Affordable Care income of a dependent who is required public inspection and copying. Act). On August 17, 2011, a notice of to file a return of tax imposed by section VerDate Mar<15>2010 16:20 May 22, 2012 Jkt 226001 PO 00000 Frm 00007 Fmt 4700 Sfmt 4700 E:\FR\FM\ 23 MYR1. 30378 Federal Register / Vol. 77, No. 100 / Wednesday, May 23, 2012 / Rules and regulations 1. The final regulations conform to this definition in the HHS Exchange final 2. Eligibility for the Premium Tax Credit statutory language, thus clarifying that regulations . a. Applicable Taxpayer household income does not include the e. Federal Poverty Line modified adjusted gross income of a Under section 36B(c)(1) and the family member who is required to file The proposed regulations define proposed regulations , in general a a tax return solely to report tax imposed Federal poverty line by reference to the taxpayer is an applicable taxpayer for a under Code sections other than section Federal poverty guidelines published taxable year only if the taxpayer's 1 (for example, the early distribution annually by HHS.)
9 The Federal poverty household income for the taxable year is penalty imposed under section 72(q) or guidelines for Alaska and Hawaii differ at least 100 percent but not more than self-employment tax under section from the guidelines for the 48 400 percent of the FPL for the taxpayer's 1401). contiguous states and the District of family size. Commentators requested Columbia. The final regulations clarify that the final regulations treat a taxpayer c. Modified Adjusted Gross Income that, if married taxpayers reside in whose household income exceeds 400. Under the proposed regulations , separate States with different Federal percent of the FPL for the taxpayer's modified adjusted gross income is poverty guidelines, or if a taxpayer family size as an applicable taxpayer if, adjusted gross income increased by resides in States with different Federal at enrollment, the Exchange estimates amounts excluded from gross income poverty guidelines during the year, the that the taxpayer's household income under section 911 and tax-exempt Federal poverty line that applies for will be between 100 and 400 percent of interest a taxpayer receives or accrues purposes of section 36B and the the FPL for the taxpayer's family size during the taxable year.
10 The 3% associated regulations is the higher and approves advance credit payments. Withholding Repeal and Job Creation Federal poverty line (resulting in a Other commentators advocated allowing Act, Public Law 112 56 (125 Stat. 711 lower percentage of the Federal poverty taxpayers with household income above (2011)), which was enacted after the line for the taxpayers' household 400 percent of the FPL for their family proposed regulations were published, income and family size). size to be treated as eligible for a amended the definition of modified premium tax credit for the months f. Federally-Facilitated Exchange adjusted gross income to include Social before a change in circumstances Security benefits (as defined in section Under the proposed regulations , the affecting household income occurs or 86(d)) not included in gross income term Exchange has the same meaning as for the months for which the taxpayer under section 86.