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missmcmine
New Member

Originally my return showed I owed the IRS, now it shows I am owed a refund. The difference is the newest return doesn't show excess premium credit. Should I amend it?

I received more income than was expected and owed excess advanced premium credit of $1600, which left me owing the IRS just over $500. Or I did when I downloaded my return when I finished my taxes. I also couldn't Efile my federal return.  I decided to check to see if I could now Efile my return before mailing it and it showed my federal return had been transmitted and Federal return was pending, it also showed it accepted on 5/29/21.  I couldn't find anything but my state return so I downloaded my documents. My federal return now shows a refund of about $1000. When I checked both forms, the difference was with the excess advance premium credit, it was no longer showing. Should I amend my return or has there been a change I am unaware of?
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Accepted Solutions
BillM223
Expert Alumni

Originally my return showed I owed the IRS, now it shows I am owed a refund. The difference is the newest return doesn't show excess premium credit. Should I amend it?

The American Rescue Plan passed in March, I think, provided the elimination (for one year) of the repayment of excess premium tax credit, so no, you don't need to amend your return.

 

In fact, I think you will now notice that there is no form 8962 attached to your return.

 

I confess that I am not actually sure which version of the return you actually filed (since it obviously was not accepted on May 29, 2021), but if the version that was filed was the version with no repayment of excess premium tax credit (this appears on line 2 of Schedule 2 (1040), then you are OK.

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2 Replies
BillM223
Expert Alumni

Originally my return showed I owed the IRS, now it shows I am owed a refund. The difference is the newest return doesn't show excess premium credit. Should I amend it?

The American Rescue Plan passed in March, I think, provided the elimination (for one year) of the repayment of excess premium tax credit, so no, you don't need to amend your return.

 

In fact, I think you will now notice that there is no form 8962 attached to your return.

 

I confess that I am not actually sure which version of the return you actually filed (since it obviously was not accepted on May 29, 2021), but if the version that was filed was the version with no repayment of excess premium tax credit (this appears on line 2 of Schedule 2 (1040), then you are OK.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

missmcmine
New Member

Originally my return showed I owed the IRS, now it shows I am owed a refund. The difference is the newest return doesn't show excess premium credit. Should I amend it?

Thank you. I was able to go back and try E-filing again. Both my federal and state returns were transmitted and accepted.

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