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Rule

Health Insurance Premium Tax Credit; Correction

Action

Correcting Amendment.

Summary

This document contains corrections to final regulations (TD 9590) that were published in the Federal Register on Wednesday, May 23, 2012 (77 FR 30377). The final regulations relate to the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010.

Unified Agenda

Health Insurance Premium Assistance Tax Credit

5 actions from August 17th, 2011 to June 2012

  • August 17th, 2011
  • October 31st, 2011
    • NPRM Comment Period End
  • November 10th, 2011
    • Outlines of Topics Due
  • November 17th, 2011
  • June 2012
    • Final Action
 

Table of Contents Back to Top

DATES: Back to Top

This correction is effective on July 12, 2012 and is applicable May 23, 2012.

FOR FURTHER INFORMATION CONTACT: Back to Top

Shareen S. Pflanz, (202) 622-4920 (not a toll free number).

SUPPLEMENTARY INFORMATION: Back to Top

Background Back to Top

The final regulations that are the subject of this document are under section 36B of the Internal Revenue Code.

Need for Correction Back to Top

As published, the final regulations (TD 9590) contain errors that may prove to be misleading and are in need of clarification.

List of Subjects in 26 CFR Part 1 Back to Top

Correction of Publication Back to Top

Accordingly, 26 CFR part 1 is corrected by making the following correcting amendments:

begin regulatory text

PART 1—INCOME TAXES Back to Top

Paragraph 1. The authority citation for part 1 continues to read in part as follows:

Authority:

26 U.S.C. 7805 * * *

Par. 2. Section 1.36B-3(g)(3) is amended by revising the first sentence of Example 1 to read as follows:

§ 1.36B-3 Computing the premium assistance credit amount.

* * * * *

(g) * * *

(3) * * *

Example 1. Back to Top

A's household income is 275 percent of the Federal Poverty line for A's family size for that taxable year. * * *

* * * * *

Par. 3. Section 1.36B-4(b)(6) is amended by revising the first sentence of Example 5. (ii) to read as follows:

§ 1.36B-4 Reconciling the premium tax credit with advance credit payments.

* * * * *

(b) * * *

(6) * * *

Example 5 Back to Top

* * *

(ii) Because R's and S's premium tax credit of $3,484 exceeds their advance credit payments of $2,707, R and S are allowed an additional credit of $777. * * *

* * * * *

end regulatory text

Diane Williams,

Federal Register Liaison, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).

[FR Doc. 2012-16986 Filed 7-11-12; 8:45 am]

BILLING CODE 4830-01-P

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