Social Security Benefits to Be Disclosed for ACA Tax Credit Determination

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The amount of Social Security benefits received by an individual applying for a premium tax credit on a health care exchange will be disclosed to the Department of Health and Human Services to help HHS determine the individual's eligibility for a premium tax credit, the Internal Revenue Service said in final rules (T.D. 9628) issued Aug. 13.
The rules cover the items of taxpayer return information that will be disclosed under tax code Section 6103(l)(21) for the purpose of assisting health care exchanges in performing certain functions under the Affordable Care Act. The proposed rules (REG-119632-11) were adopted with some modifications, IRS said (82 DTR G-2, 4/30/12).
The primary purpose is to verify a taxpayer's income to determine whether the individual is eligible for ACA insurance affordability programs, as well as state-run Medicaid, the Children's Health Insurance Program, or basic health programs, IRS said.
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