IRS Update: Frequently Asked Questions About the Premium Tax Credit

The IRS has released updated FAQs on the Premium Tax Credit (PTC), clarifying key areas such as eligibility, affordability of employer-sponsored coverage, and how to reconcile advance payments. Notably, updates address the affordability of family coverage (often called the “family glitch”), which helps taxpayers better determine eligibility for credits. These FAQs ensure taxpayers can confidently navigate their health coverage options through the Marketplace while understanding IRS rules. For more details, check out the IRS’s comprehensive breakdown, including tips on income changes, filing requirements, and recent adjustments to affordability percentages.