Drake Software blog for tax pros, covering tax, IRS news, and more

IRS Notices and Guidance 0214  - Notice 2015-09 and Revenue Procedure 2015-17

The IRS recently released information pertaining to premium tax credits and nonprofit health insurance users.

  • Notice 2015-09 provides limited relief for taxpayers who have a balance due on their 2014 income tax return as a result of reconciling advance payments of the premium tax credit against the premium tax credit allowed on the tax return. Notice 2015-09 will be published in Internal Revenue Bulletin 2015-6 on February 9, 2015. 
  • Revenue Procedure 2015-17 sets forth procedures for issuing determination letters and rulings on the exempt status of qualified nonprofit health insurance issuers (QNHIIs). Revenue Procedure 2015-17 will be in IRB 2015-7, dated February 17, 2015. 

Source:  IRS documents as cited

admin taxing_subjects

The Taxing Subjects staff is proud to cover the latest in tax-industry-related news, from tax law and IRS updates to technology and business strategies. If you have questions about an article or just want to reach out to the Taxing Subjects staff, email comments@taxingsubjects.com.

comments powered by Disqus