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APTC meaning in Income Tax ?

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Answer: What is Advance Premium Tax Credit mean?

The premium tax credit (PTC) is a refundable tax credit in the United States. It is payable by the Internal Revenue Service (IRS) to eligible households that have obtained healthcare insurance by a healthcare exchange (marketplace) in the tax year. It can be paid in advance directly to a healthcare insurance company to offset the cost of monthly health insurance premiums.

The tax credit is part of a host of Affordable Care Act tax provisions, introduced by the IRS in 2014, and is meant to extend health insurance coverage to 18 million lower and middle-income Americans.

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Miscellaneous in Income Tax
Miscellaneous in Income Tax

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