26 U.S.C. § 139I — Continuation coverage premium assistance

submitted 5 years ago by Pub. L. 117-2 to r/title-26-INTERNAL-REVENUE-CODE · 39 words · no verdicts yet

in plain englishAI-generated · not legal advice

If you qualify for COBRA premium assistance under the 2021 American Rescue Plan Act, that premium assistance is not counted as taxable income.

This section keeps one type of COBRA health insurance subsidy out of taxable income. If someone is an "assistance eligible individual," as defined in the American Rescue Plan Act of 2021 (section 9501(a)(3)), the premium assistance they receive under that same law (section 9501(a)(1)) does not count as part of their taxable income.

the actual law source: uscode.house.gov ↗public domain

In the case of an assistance eligible individual (as defined in subsection (a)(3) of section 9501 of the American Rescue Plan Act of 2021), gross income does not include any premium assistance provided under subsection (a)(1) of such section.

Source credit: (Added Pub. L. 117–2, title IX, § 9501(b)(4)(A), Mar. 11, 2021, 135 Stat. 137.)

history & why it existsrecord from the source credit

2021Enacted · Pub. L. 117-2 · 135 Stat. 137

A history note hasn’t been published yet. The record shows enactment by Pub. L. 117-2 on 2021-03-11.

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