The IRS released Frequently Asked Questions (FAQ) to provide temporary relief to employers who operated van pools but experienced reduced ridership due to the Coronavirus (COVID-19) emergency. For this purpose, the emergency is considered to have begun on March 13, 2020.
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The premium tax credit helps pay for health insurance coverage bought from the Health Insurance Marketplace. Eligible people can choose to have all, some, or none of the estimated credit paid in advance directly to their insurance company on their behalf.
Since many taxpayers have filed their federal tax returns, they’re eager for details about their refund. When it comes to refunds, there are several common myths that can mislead taxpayers.