Which of the following statements is correct?
A)Taxpayers with household income which is more than 400% of the Federal Poverty Level are eligible to claim the premium tax credit.
B)The premium tax credit is only available when the taxpayer files his or her tax return.
C)The premium tax credit is designed to help eligible taxpayers pay some of their health insurance premium.
D)Taxpayers who receive a credit are not required to file a federal tax return.

Question

Quizplus · Accepted Answer

The statement "The premium tax credit is designed to help eligible taxpayers pay some of their health insurance premium" is correct. Choices A and D are incorrect because taxpayers with household income lower than 400% of the Federal Poverty Level are also eligible for the premium tax credit, and taxpayers who receive a credit are still required to file a federal tax return. Choice B is incorrect because taxpayers can also receive advance payments of the premium tax credit to help pay for their health insurance throughout the year.

Which of the Following Statements Is Correct