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The purpose of Form 8962 is to allow filers to calculate their Premium Tax Credit (PTC) amount with their federal income tax return.
Form 8962, the Premium Tax Credit (PTC) must be filed with a 1040 income tax return by individuals who already received advance subsidies through a healthcare exchange.
The first Form 1040 was published for use for the tax years 1913, 1914, and 1915. For 1916, Form 1040 was converted to an annual form (i.e., updated each year with the new tax year printed on the form). [3] Initially, the IRS mailed tax booklets (Form 1040, instructions, and most common attachments) to all households.
A 1040 tax form lets taxpayers fill out their annual tax return. Taxpayers include information such as their income, deductions and credits using the 1040 form.
Form 1040, officially, the U.S. Individual Income Tax Return, is an IRS tax form used for personal federal income tax returns filed by United States residents. The form calculates the total taxable income of the taxpayer and determines how much is to be paid to or refunded by the government.
Under United States tax law, the standard deduction is a dollar amount that non- itemizers may subtract from their income before income tax (but not other kinds of tax, such as payroll tax) is applied. Taxpayers may choose either itemized deductions or the standard deduction, [1] but usually choose whichever results in the lesser amount of tax payable. [2] The standard deduction is available ...
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related to: schedule 2 line 3 1040 instructions tax form 8962 pdf