Familytaxcredits Tax Year 2016

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FAMILYTAXCREDITS TAX YEAR 2016 FAMILIES IN NEW YORK GET THE TAX CREDITS YOU DESERVE! You work hard to support your family. Whether or not you owe any income tax, you could get thousands of dollars back in tax credits. You could qualify for: • Up to $2,100 from the federal Child and Dependent Care Tax Credit, up to $2,310 from the New York State Child and Dependent Care Tax Credit, and up to $1,733 from the New York City Child and Dependent Care Tax Credit. • Up to $6,269 from the federal Earned Income Tax Credit, up to $1,881 from the New York State Earned Income Tax Credit, and up to $313 from the New York City Earned Income Tax Credit. • Up to $1,000 per child from the federal Child Tax Credit and up to $330 per child from the Empire State Child Tax Credit. • A Premium Tax Credit to help you purchase health insurance through the Health Insurance Marketplace. • If you need help paying for health insurance in 2017, you can get the Premium Tax Credit as soon as you sign up through the Marketplace. Most people need to sign up by February 2017—so go to healthcare.gov or call (800) 318-2596 today for more information. • If you purchased insurance through the Marketplace in 2016 and received an advance payment of the Premium Tax Credit, you must file a tax return for 2016. TO GET THESE CRedits, YOU MUst FILE A TAX RETURN. Find out where you can get FREE help with your taxes by calling the IRS toll-free at (800) 906-9887. Or go to http://irs.treasury.gov/freetaxprep/. You can also contact the New York State Department of Taxation and Finance at (518) 457-5181. To find out where to get free income tax preparation assistance, call AARP Tax-Aide toll-free at (888) AARP-NOW or (888) 227-7669. New York City residents call 311. NATIONAL WOMEN’s LAW CENTER TAX CREDITS OUTREACH CAMPAIGN 2017 TAX FILING SEASON.

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Publication 974, Premium Tax Credit (PTC)
Userid: CPM Schema: tipx Leadpct: 100% Pt. size: 10 Draft Ok to Print AH XSL/XML Fileid: … tions/P974/2020/A/XML/Cycle04/source (Init. & Date) _______ Page 1 of 80 16:23 - 16-Apr-2021 The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing. Department of the Treasury Contents Internal Revenue Service Future Developments ....................... 1 Publication 974 Reminders ............................... 2 Cat. No. 66452Q Introduction .............................. 2 What Is the Premium Tax Credit (PTC)? ......... 3 Premium Tax Who Must File Form 8962 .................... 3 Who Can Take the PTC ...................... 4 Credit (PTC) Terms You May Need To Know ............... 4 For use in preparing Minimum Essential Coverage (MEC) ........... 8 Individuals Not Lawfully Present in the United 2020 Returns States Enrolled in a Qualified Health Plan ... 19 Determining the Premium for the Applicable Second Lowest Cost Silver Plan (SLCSP) ... 27 Allocating Policy Amounts for Individuals With No One in Their Tax Family .............. 27 Allocation of Policy Amounts Among Three or More Taxpayers ....................... 28 Alternative Calculation for Year of Marriage .... 38 Self-Employed Health Insurance Deduction and PTC ............................. 57 How To Get Tax Help ...................... 76 Index .................................. 80 Future Developments For the latest information about developments related to Pub. 974, such as legislation enacted after it was published, go to IRS.gov/Pub974. What’s New Health reimbursement arrangements (HRAs). Begin- ning in 2020, employers can offer individual coverage health reimbursement arrangements (individual coverage HRAs) to help employees and their families with their medical expenses. If you are offered an individual cover- age HRA, see Individual Coverage HRAs, later for more information on whether you can claim a PTC for you or a member of your family for Marketplace coverage.
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Key Elements of the U.S. Tax System
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Earned Income Tax Credit
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