HCTC 2021

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HCTC 2021

Postby vernlarson@cox.net » Fri Dec 25, 2020 8:59 am

Avaya Retirees:

HCTC Extended for 2021 pending approval by the President

Heads up notice.

I was told in a letter this past week from one of my Senators that Congress included a one-year extension of the Health Coverage Tax Credit (HCTC) in the $1.4 trillion federal government fiscal year 2021 appropriations bill and or the $900 billion COVID-19 stimulus package that passed on December 21.

As you know the HCTC is a refundable tax credit for individuals, between the ages of 55 - 64, receiving certain Trade Adjustment Assistance benefits or individuals receiving pension plan benefits that have been taken over by the Pension Benefit Guaranty Corporation (for example, NRLN Avaya Retiree Chapter members). The tax credit is for 72.5 percent of the premium amount paid by an eligible individual for health insurance coverage.

An Action Alert was issued on December 3 asking NRLN grassroots advocates to send the NRLN's sample letter to urge their members of Congress to extend HCTC which was scheduled to expire on December 31.

The Action Alert caused 3,317 letters to be sent to Representatives and Senators. This is another example of members of NRLN associations and chapters banding together to communicate to Congress an issue important to retirees.

Now we wait to see what happens with the signing of the bills by the President. More to come when we hear it is approved and signed.

Enjoy the holiday’s and stay safe and healthy.

Sincerest Regards,

Vern Larson, President, NRLN Avaya Retirees Chapter
NRLN Board Member, Vice President – Membership Development
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Re: HCTC 2021

Postby vernlarson@cox.net » Sat Dec 26, 2020 12:08 pm

HCTC Extension for 2021 in Legislation Passed by Congress

Congress included a one-year extension of the Health Coverage Tax Credit (HCTC) in the $1.4 trillion federal government fiscal year 2021 appropriations bill and the $900 billion COVID-19 economic stimulus package passed on December 21. However, as of December 26 President Trump had not signed the legislation into law because he is urging Congress to raise the economic stimulus for individuals from $600 to $2,000.

HCTC is a refundable tax credit for individuals, between the ages of 55 - 64, receiving certain Trade Adjustment Assistance benefits or individuals receiving pension plan benefits that have been taken over by the Pension Benefit Guaranty Corporation (for example, NRLN Avaya Retiree Chapter members). The tax credit is for 72.5 percent of the premium amount paid by an eligible individual for health insurance coverage.

The NRLN lead the advocacy charge to lobby for HCTC protection in 2009 and 2010 when it was passed to protect retirees like Delphi retirees whose’ pensions were taken over by the PBGC. Younger retirees suffered 20-30% losses from company pensions paid. A bankruptcy court approved termination of the pension plan and cancellation of all healthcare benefits.

An NRLN Action Alert was issued on December 3 asking NRLN grassroots advocates to send the NRLN's sample letter to urge their members of Congress to extend HCTC which was scheduled to expire on December 31. The Action Alert caused 3,317 letters to be sent to Representatives and Senators.

The NRLN lobbies for the annual extension of the HCTC but also for permanent statute language that better protects retirees from pension and healthcare losses due to mergers, acquisitions, company spinoffs and pension plan mergers. We will ask for your support to get these proposals passed by Congress in 2021.

This is another example of members of NRLN associations and chapters banding together to communicate to Congress an issue important to retirees.

Remember, Seniors are Special!

Bill Kadereit, President
National Retiree Legislative Network
www.nrln.org | Podcast/Videos
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Re: HCTC 2021

Postby Dave » Sun Dec 27, 2020 3:40 pm

This is great news. My only fear is that since Trump is demanding $6K per person then congress might start cutting things and the HCTC might be one of them.

Vern, please post information on how people can join the NRLN.

Thanks for all you do.

Dave
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Re: HCTC 2021

Postby vernlarson@cox.net » Mon Dec 28, 2020 11:01 am

Dave and all Avaya retirees

President Donald Trump signed the $900 billion COVID-19 relief package Sunday.

Trump said in a statement announcing he had signed the bill, "I am signing this bill to restore unemployment benefits, stop evictions, provide rental assistance,
add money for PPP (Paycheck Protection Program), return our airline workers back to work, add substantially more money for vaccine distribution, and much more."

I was asked to put a link on this site to join the NRLN (National Retirees Legislative Network) NRLN.org

Here is a direct link to sign up to the NRLN and Avaya Chapter of the NRLN.

https://www.nrln.org/congresslegs.html# ... 19CCE5EA9B

Vern Larson- NRLN Vice President - Membership Development. avayaprez@nrln.org

The NRLN a non-profit 501C that Is… non-partisan.
Based in Washington, D.C., the National Retiree Legislative Network (NRLN) is the only nationwide organization solely dedicated to representing the interests of retirees and future retirees. Formed in 2002, the NRLN’s endeavors to secure federal legislation to protect retirees’ employer-sponsored pensions and benefits in addition to keeping Social Security and Medicare strong. The NRLN is a non-partisan, grassroots coalition representing more than 2 million retirees who came to the NRLN from nearly 200 different U.S. corporations and public entities. Our members lobby on behalf of retirees in a majority of U.S. Congressional Districts across the country. They are working together as NRLN Individual Members, Retiree Associations and Chapters to preserve the retirement benefits they earned during their many years of employment.
NRLN Mission
The mission of the National Retiree Legislative Network is to develop, identify and rally support for federal legislation that guarantees fair and equitable treatment of retirees and future retirees. We work to protect earned employer-sponsored pensions and benefit plans and Medicare and Social Security. We fervently endeavor to preserve and/or improve provisions of those programs, and related legislation supporting them, that Americans worked many years to earn and expected to be available throughout their retirement. It is important that we protect the real income and economic security of retirees. We will oppose legislation and regulations that will do harm to the quality of retirement life.
As a non-partisan coalition of retiree associations and individual members from across America we utilize the strength of our Board of Directors, company association leaders, individual members, Washington, DC staff, national allies and our Grassroots Network members from all 50 states to represent and lobby for the interests of the millions of men and women who retired from the private and public sectors.
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Re: HCTC 2021

Postby Administrator » Tue Dec 29, 2020 1:11 am

Vern:

Thanks for the information and all the work you and NRLN do to help out the Avaya Retirees.

I just donated $50 to NRLN and hope other members of the forum join NRLN and can contribute something. We (Avaya Retirees) need organized groups like AARP and NRLN to keep us informed and help mold legislation to protect retirees.

The link to join the Avaya chapter of the NRLN is https://www.nrln.org/congresslegs.html# ... 19CCE5EA9B

Dave
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Re: HCTC 2021

Postby mlhearn » Tue Dec 29, 2020 8:48 am

All,
In support of Dave's comment on supporting NRLN, what I have done for the last few years is support NRLN through Amazon Smiles.
Amazon Smiles is the same as Amazon, but when you make an Amazon purchase, a small amount is contributed to the charity of your choice.
In my case I chose AREF - American Retirees Education Foundation ( https://www.seniorsaref.org/ ) which was formed by NRLN as
a 501(c) to fund the research and education done by NRLN. It is an easy way to contribute to NRLN and doesn't cost you anything.
Amazon Smiles: https://smile.amazon.com/
Mike
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Re: HCTC 2021

Postby tja5577 » Thu Dec 31, 2020 11:09 am

The IRS has updated their HCTC web page to reflect the HCTC extension through 2021
https://www.irs.gov/credits-deductions/individuals/hctc
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Re: HCTC refund for 2019

Postby Vbaumwald » Fri Jan 29, 2021 6:50 pm

Is anyone else still waiting for their HCTC refund from their 2019 tax return?
I am and my accountant has contacted the IRS and has been told that the group that handles HCTC is very backed up.
Mind you I filed electronically in March 2020 and I’m really losing my patience here...wondering if there are others in my shoes.
Thanks
Vickie Baumwald
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Re: HCTC 2021

Postby alpessot » Fri Jan 29, 2021 8:01 pm

Yes, I'm also waiting on my 2019 return and did claim the HCTC.
I was able to speak to an agent about a month ago who looked into my file.'
Turns out we did not submit all the appropriate supporting material (health insurance invoices, proof of payment).
According to the agent we were to be notified of the missing documentation by mail,
but the file indicated no such notification had been sent out.
We faxed all the needed info and are of course still waiting.

I'm doubly upset because 2020 stimulus checks were supposed to be based on 2019 tax return info,
but since that hasn't been processed, my 2018 taxes were used.
I had much more income in 2018 than 2019 and received a stimulus of $7.95 rather than $2000.
No idea how I get that back once the 2019 taxes are processed.
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Re: HCTC 2021

Postby mlhearn » Fri Jan 29, 2021 8:07 pm

Vickie,
10 weeks after electronically filing my 1040, I had not received my IRS refund (mostly my HCTC money). I contacted the IRS and was told that the IRS had not received the mail in (physical USPS mail) portion of the return (form 8885 and accompanying data) required for HCTC proof. The IRS also told me they had sent me a letter informing they had not received my mail in 8885, I never received the IRS letter. Luckily I made a copy of everything I sent originally and just sent it in again. After a few more weeks I received my IRS refund which includes the HCTC money. They also stated they were severely backed up. At first I was worried the IRS had run out of money due to the first stimulus check timing and couldn't print more money :) Luckily that was not the case. Hope this helps.
Mike
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