Increased Health Coverage Tax Credit & Estimated Taxes

The health coverage tax credit has been increased for certain individuals. If you are going to pay 2009 estimated taxes, the IRS suggests that you consider such a change when making payments.

According to the IRS, for individuals who are eligible trade adjustment assistance (TAA) recipients, alternative TAA recipients, or eligible Pension Benefit Guaranty Corporation pension recipients, the credit for the cost of health insurance increases. This credit also is available to eligible TAA recipients who are not currently enrolled in a training program.

Check out our review of all changes in estimated taxes for 2009.