Proposed regulations providing guidance under section 36B regarding premium tax credit; OIRA review completed

OMB’s Office of Information and Regulatory Affairs (OIRA) review of proposed regulations

Proposed regulations providing guidance under section 36B regarding premium tax credit

OMB’s Office of Information and Regulatory Affairs (OIRA) reported it completed its review of proposed regulations providing guidance under section 36B regarding the premium tax credit.

OIRA received the proposed regulations for review on March 11, 2022, and completed its review on March 29, 2022. The proposed regulations are listed on the OIRA website as:

  • RIN: 1545-BQ16Guidance under section 36B regarding the premium tax credit

A brief description of the final regulations, as provided by OIRA, is:

Executive Order 14009, Strengthening Medicaid and the Affordable Care Act (ACA), directs the Secretary of the Treasury to review all existing regulations and other agency actions to determine whether the actions are inconsistent with the policy to protect and strengthen the ACA and, in particular, review policies or practices that may reduce the affordability of coverage or financial assistance for coverage, including for dependents. The Treasury Department and the IRS have reviewed the regulations under section 36B and are proposing regulatory changes in accordance with E.O. 14009.

Now that OIRA review has been completed, Treasury and the IRS can be expected to release these proposed regulations for publication in the Federal Register—the exact date of publication not being known.

 

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.