Internal Revenue Code:Sec. 6050T. Returns relating to credit for health insurance costs of eligible individuals

From TaxAlmanac

Location in Internal Revenue Code

TITLE 26 - INTERNAL REVENUE CODE
      Subtitle F - Procedure and Administration
       CHAPTER 61 - INFORMATION AND RETURNS
        Subchapter A - Returns and Records
         PART III - INFORMATION RETURNS
          Subpart B - Information Concerning Transactions With Other Persons

Statute

Sec. 6050T. Returns relating to credit for health insurance costs
 of eligible individuals.

    (a) Requirement of Reporting.--Every person who is entitled to 
     receive payments for any month of any calendar year under section 7527 
     (relating to advance payment of credit for health insurance costs of 
     eligible individuals) with respect to any certified individual (as 
     defined in section 7527(c)) shall, at such time as the Secretary may 
     prescribe, make the return described in subsection (b) with respect to 
     each such individual.
    (b) Form and Manner of Returns.--A return is described in this 
     subsection if such return--
       (1) is in such form as the Secretary may prescribe, and
       (2) contains--
          (A) the name, address, and TIN of each individual 
                referred to in subsection (a),
          (B) the number of months for which amounts were 
                entitled to be received with respect to such individual 
                under section 7527 (relating to advance payment of 
                credit for health insurance costs of eligible 
                individuals),
          (C) the amount entitled to be received for each 
                such month, and
          (D) such other information as the Secretary may 
                prescribe.

    (c) Statements To Be Furnished to Individuals With Respect to Whom 
     Information Is Required.--Every person required to make a return under 
     subsection (a) shall furnish to each individual whose name is required 
     to be set forth in such return a written statement showing--
       (1) the name and address of the person required to make 
        such return and the phone number of the information contact for 
        such person, and
       (2) the information required to be shown on the return 
        with respect to such individual.

     The written statement required <<NOTE: Deadline.>>  under the preceding 
     sentence shall be furnished on or before January 31 of the year 
     following the calendar year for which the return under subsection (a) is 
     required to be made.

Amendments to Section

                     AMENDMENTS

     2002 - Pub. L. 107-210, Sec. 202(c)(1), inserted this
     new section 6050T.  Effective Date.--The amendments 
     made by this section shall take effect on the date of the
     enactment of this Act [NOTE: Act approved August 6, 2002].

Miscelleanous

                        MISCELLEANOUS