@skunche wrote:
Curious to know if IRS indeed waived, "the repayment of excess Premium Tax Credit for 2020"?
What is current status of "THE AMERICAN RESCUE PLAN ACT 2021" and as a result TurboTax updates, if any?
The IRS has not yet issued any guidance on how this is to be handled.
Go to this IRS website for their statement - https://www.irs.gov/affordable-care-act/individuals-and-families/the-premium-tax-credit-the-basics
We’re reviewing the tax provisions of the American Rescue Plan Act of 2021, signed into law on March 11, 2021. Taxpayers who filed a 2020 tax return and reported an excess advance premium tax credit repayment on Line 29 of Form 8962, Premium Tax Credit, should not file an amended tax return only to get a refund of this amount. The IRS will provide more details soon.
