The Internal Revenue Service is trying to get the word out about a program to assist taxpayers who may be eligible for the Health Coverage Tax Credit (HCTC).
The IRS estimates that more than 10,000 Alabamians are potentially eligible for the credit. Many may have been contacted by the government but may not understand how to apply.
The HCTC Program partners with various federal and state agencies and Health Plan Administrators (HPAs) to deliver the tax credit to eligible individuals.
The HCTC is available on a monthly basis to help individuals pay their health insurance costs as they become due or on a yearly basis when they file their federal tax return. The HCTC is a refundable tax credit - it is paid in full no matter how much federal income tax an eligible individual owes.
The HCTC began as a ground breaking tax credit program in 2002 and in 2009 was expanded as a result of the American Recovery and Reinvestment Act.
For more information, call 1-866-628-HCTC or by going to www.irs.gov.