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Returning Member
posted Apr 15, 2021 9:12:43 AM

ACA tax credit

I e-filed my return back in early march before the ACA but I haven't sent in my payment yet. Now I owe a lot less. What should I do? Do I send in my payment and hope to get a refund or amend my return and send in the new amount owed?

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2 Replies
Level 15
Apr 15, 2021 9:33:31 AM

I have seen no guidance by the IRS or anything posted in this forum that would answer your question.  you have until  5/17 to pay. hopefully, the IRS will post additional guidance.  

Expert Alumni
May 4, 2021 5:53:39 PM

It would seem prudent to not send in more than what you owe since it may be difficult and take some time to get the overpayment back from the IRS. If you get a penalty for underpayment of tax, you can normally get it reversed if you have good cause for not paying your tax on time, as you would in this circumstance.