Notice 2016-2: Health coverage tax credit under section 35

Notice 2016-2: Health coverage tax credit

The IRS today released an advance version of Notice 2016-2 that provides guidance about the health coverage tax credit (HCTC) available under section 35.

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Notice 2016-2 [PDF 42 KB] reflects changes made to section 35 by the “Trade Preferences Extension Act of 2015” enacted in late June 2015, and provides:

  • Information as to who may claim the HCTC, the amount of the HCTC, and the procedures to claim the HCTC for tax years 2014 and 2015
  • Guidance for taxpayers eligible to claim the HCTC who enrolled in a qualified health plan offered through a “health insurance marketplace” in tax years 2014 or 2015, and who claimed or are eligible to claim the premium tax credit under section 36B

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