APTC benefits are a tax credit paid in advance, which you will reconcile on your federal tax return.
To prevent an overpayment or underpayment of the tax credit at the end of the year when you reconcile this amount on your federal tax returns, be sure to update DHW with any income or household changes so that we may re-calculate your annual APTC amount based on accurate information.
When receiving APTC, you are required to re-evaluate periodically. When your household is due for recertification, the department will notify you and provide you with the necessary forms required to complete the process.
It is important to report any of the following changes throughout the year in a timely manner to make sure your tax credit is computed correctly.
Let us know when:
- Changes in either your mailing or physical address.
- If you move out of the state, or move to a new county within Idaho, those changes must be reported.
- Who you claim on your taxes. If you add or remove tax dependents, this will affect your tax credit.
- Income changes
- Both increases and decreases to your projected annual income may change your tax credit.