The IRS has updated its FAQ webpage on the premium tax credit to reflect changes made under the One Big Beautiful Bill Act and remove provisions that no longer apply.
The premium tax credit is a refundable tax credit that helps eligible individuals and families with low or moderate income with the cost of their health insurance purchased through the Health Insurance Marketplace, also known as the Exchange.
OBBB made several changes to the tax credit, including removing the limitations on repayment of excess advance payments of the premium tax credit for tax years beginning after Wednesday, Dec. 31. See the updated FAQ.