With the ARP, it sounds like we'll get tax break if overpaid with Advance Premium Tax Credit for the Healthcare marketplace. When will this be done? Ours hasn't updated.

guitarfreak_81 · ‎March 29, 2021

If we do happen to owe taxes, are we able to wait to pay them with the new May 17 file deadline as well? I just want to know how long to wait for this ARP stuff to be updated before filing. Any estimate will help.

MinhT1 · ‎March 29, 2021

TurboTax is still waiting for guidance from the IRS.

The IRS says in this document:

We’re reviewing the tax provisions of the American Rescue Plan Act of 2021, signed into law on March 11, 2021. Taxpayers who filed a 2020 tax return and reported an excess advance premium tax credit repayment on Line 29 of Form 8962, Premium Tax Credit, should not file an amended tax return only to get a refund of this amount. The IRS will provide more details soon. For the latest updates, check IRS.gov/coronavirus.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

With the ARP, it sounds like we'll get tax break if overpaid with Advance Premium Tax Credit for the Healthcare marketplace. When will this be done? Ours hasn't updated.