In 2002, the Trade Act created the Health Coverage Tax Credit, also referred to as the HCTC. The HCTC became effective in 2003, and offers a federal tax credit of 65% to be paid back to eligible individuals for the qualified health plan premiums they paid each year. This works one of two ways: the eligible individual can either file their federal tax returns each year claiming the premiums, or by applying for an advance by paying 65% of the health plan premiums due. The way i...
Like this book? You can publish your book online for free in a few
minutes!