IRS provides an update to frequently asked questions for the Premium Tax Credit

IR-2024-244, Sept. 19, 2024

WASHINGTON -The Internal Revenue Service today updated its frequently asked questions in Fact Sheet 2024-30 PDFfor the Premium Tax Credit.

These FAQs supersede earlier FAQs that were posted in FS 2024-04 PDFon Feb. 9, 2024.

Today's revision is under the Affordability of Employer Coverage for Employees and for Family Members of Employees section, specifically Q11, to provide the required contribution percentage for determining whether employer coverage is considered affordable for plan years beginning in 2025. The revision is based on Revenue Procedure 2024-35 PDF.

More information about reliance is available.

IRS-FAQ