- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
We are waiting for guidance from the IRS on how to deal with all the collateral issues that forgiving the excess PTC repayment causes.
Part of the reason that the IRS extended most states to May 17th was to (1) give themselves time to come up with the guidance, and (2) give the software vendors time to implement and test the changes.
I can't make guarantees, but I would imagine that the change will be ready to go sooner than May 17th.
I would suggest waiting for the updates and filing then, rather than expecting to go the amendment route, which can introduce additional complications.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎April 8, 2021
7:24 PM