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(Solved): Which of the following statements regarding the premium tax credit (PTC) is INCORRECT?a) b) c) The p ...



Which of the following statements regarding the premium tax credit (PTC) is INCORRECT?a) b) c) The premium tax credit (PTC) was established by the Affordable Care Act (ACA).ARPA changed the affordability percentages used for premium tax credits for 2021 and 2022 toincrease credits for individuals eligible for assistance and provide credits to taxpayers with incomeover 400% of the federal poverty level, and the IRA extended this provision through 2025.ARPA changed the PTC so that all individuals with premiums in excess of 8.5% of their householdincome are eligible for the PTC in 2021 and 2022, and the IRA extended this provision through2025.d) The temporary ARPA rules regarding the PTC were not extended beyond the 2022 tax year.



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