You may elect to have advance payments of the credit paid directly to your insurance provider – this will help offset premium costs. You would then list the amount of the advance payments and reconcile it with the actual credit amount when you file your 2016 . Or, not to have advance payments and receive the premium assistance provided by the credit all at once when you file your return. In both cases, you will need to claim the credit on your tax return. The credit is based
Small business owners, DO NOT FORGET to send your subcontracts 1099 before February 1,2016 . If you fail to file a correct 1099 information return by the due date and you cannot show reasonable cause, you may be subject to a penalty.