From the 3/9/21 edition of the Philadelphia Inquirer, page A7 - "The
( 2021 Stimulus ) bill also relieves people of
having to pay back ( Affordable Care Act ) tax credits they received
in 2020 if their income ended up higher than they estimated
during enrollment — a problem analysts say will be common
for marketplace shoppers whose income was unpredictable and
fluctuated significantly during the pandemic."
This is great news.
For me, I filed and submitted by 2020 taxes in February 2021 using Turbo Tax Premier desktop. In my case, my income for 2020 was over the 401% poverty limit by just a small amount.
So, Turbotax told me I had to repay ALL of my ACA credits.
So, instead of getting a roughly $3k refund, I had to pay the IRS a LARGE amount of money to pay back the credits. I wrote the check, and put it in the mail, and the IRS has cashed the check.
So, now, after the 2021 stimulus bill passed in March, I learn from the newspaper article that I am entitled to get all of money I paid to the IRS back. How is Turbotax going to help me get this money back from the IRS and into my own account ?? ( again, this is a LARGE amount of money, so ignoring this will be foolish for me to do... )
thanks
