mcavoym1
Level 1
03-23-2021
10:45 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have a client who received a lump sum settlement from Social Security (making his Advanced Premium Tax Credit repayable).
However he also had to pay back almost $15,000 of third party sick pay that he had received in prior years. Does this effect the repayment calculation? I can't find reference to it anywhere 😞
Labels
TaxGuyBill
Level 15
03-23-2021
01:29 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
The new law canceled repayments of the Advance Premium Tax Credit for 2020.
But you will need to wait a couple of weeks until everything is updated and ready for that.
