MikeB_CPA
Level 5
03-19-2021
05:52 PM
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As I understand the American Rescue Plan, Act one of its components suspends tax liability for 2020 when advance payment exceeds the allowed Premium Tax Credit, regardless of income level. I have two returns where the excess premium credit repayment amount (Form 8962) still appears on the return.
Have I misunderstood this component of the Act, or has this update not yet made its way into ProSeries?
Thanks!
Mike
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