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dslyder301
July 13, 2021
Question

Changed Return

  • July 13, 2021
  • 1 reply
  • 0 views

I filed my taxes in Mid February and had to pay back my estimated ACA premium deductions.  I just updated the taxes and now it is saying I did not owe them and that I should have had a small refund.  What Changed and should I file an amended return

    1 reply

    rjs
    rjs
    Employee
    July 13, 2021

    What happened is that in March Congress passed the American Rescue Plan Act, which retroactively suspended repayment of excess Advance Premium Tax Credit for 2020. Do not file an amended return. The IRS is recalculating tax returns that include repayment of excess APTC, and they will send you a refund. See the following links on the IRS web site for more information.


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


    More details about changes for taxpayers who received advance payments of the 2020 Premium Tax Credit

     

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