bnichols56lee
Level 2

1095A

I've completed my tax return with turbo tax ( not yet filed ) my question is why don't i have to pay back  my health tax credit when i know i don't qualify for the credit ? i believe that i owe back $5436 but the TurboTax says i don't have to pay it back  ?  

‎April 24, 2021 6:04 PM
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rjs
Level 15
Level 15

Deductions & credits

The American Rescue Plan Act suspends the requirement to pay back excess Advance Premium Tax Credit for 2020. See the IRS news release at the following link.


IRS suspends requirement to repay excess advance payments of the 2020 Premium Tax Credit

 

‎April 24, 2021 7:13 PM
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bnichols56lee
Level 2

Deductions & credits

Thank you ! Any plans for the same for  2021? 

‎April 25, 2021 10:32 PM
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rjs
Level 15
Level 15

Deductions & credits

@bnichols56lee wrote:

Any plans for the same for  2021? 

I haven't seen any mention of a proposal to suspend repayment again for 2021. I think it's unlikely that that would happen. Consider it a one-time benefit.

 

‎April 26, 2021 8:35 AM
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