Daily Tax Update - November 15, 2016: IRS Opens Registration for Health Coverage Tax Credit Advance Payment Program

IRS Opens Registration for Health Coverage Tax Credit Advance Payment Program:  Today, the IRS opened the new registration and enrollment process for qualified taxpayers to receive the benefit of the Health Coverage Tax Credit on an advance monthly basis during 2017.  Under the program, eligible taxpayers can have 72.5% of their qualified health insurance premiums paid in advance directly to their health plan administrator each month, thus lowering program participants’ out-of-pocket premium costs.  A list of questions and answers regarding the registration and enrollment process can be accessed here.  

House Republicans Unanimously Nominate Paul Ryan for Second Term as House Speaker:  Today, in a voice vote, House Republicans unanimously nominated Rep. Paul Ryan (R-WI) to serve a second term as speaker of the House.  In order to secure his speakership, Ryan must win a floor vote in January.  At a press briefing held this morning, Speaker Ryan pledged that a “new unified Republican government” would be “focused on turning President-elect Trump’s victory into real progress for the American people.”