1095A
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
bnichols56lee
Level 1

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  ?  

3 Replies
rjs
Level 15
Level 15

1095A

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

 

bnichols56lee
Level 1

1095A

Thank you ! Any plans for the same for  2021? 

rjs
Level 15
Level 15

1095A


@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.

 

Dynamic AdsDynamic Ads
v
Privacy Settings