Get your taxes done using TurboTax

Yes, that makes sense.

 

I am using TurboTax Home & Business and echo what others have said - as of today (Thurs April 8), the projected changes/implications of the American Rescue Act  have been implemented/incorporated into the TurboTax forms.  And there is a corresponding change in my tax liability.

 

Form 8962 is still used (maybe not included with forms ultimately sent to the IRS when filing) and a calculation is indicated on Line 29 of that form, but any amount on that line which would have been owed back is now NOT included on Form 1040 line 17, nor on Schedule 2, line 2.

 

What's interesting is a note at the bottom of the IRS page here indicates that as of today it has not been updated since March 16:

 

https://www.irs.gov/affordable-care-act/individuals-and-families/premium-tax-credit-claiming-the-cre...

 

Hopefully there won't be further backs and forths, and hopefully all calculations throughout all forms are taking into account these changes (they seem to have), and hopefully the coast is clear to submit tax forms now.  But just the same, since there still is time before the filing deadline, I'm waiting a little while before filing to make sure there are no bugs that need ironing out.