TM921
Level 1
04-08-2021
01:28 PM
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premium tax credit automatically adjusted after I hade transmitted the return. Instead of owing he now gets a refund of over 11052. Anyone else experienced this? it just occurred today.
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sjrcpa
Level 15
04-08-2021
01:29 PM
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Yes they just updated the software for the 2020 law change.
The more I know the more I don’t know.
TM921
Level 1
04-08-2021
01:43 PM
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thanks
Ernie
Level 9
04-08-2021
01:49 PM
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SJRCPA: Has the IRS given guidance on if they are going to correct these or if we will have to do an amendment?
Dusty Ernie
abctax55
Level 15
04-08-2021
02:24 PM
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Dusty, per this.... hurry & wait. MY concern would be how fast will the IRS act (some of these numbers are HUGE)? But, an amended return won't be processed any faster. Jeez, what a friggin' cluster.
HumanKind... Be Both
sjrcpa
Level 15
04-08-2021
04:40 PM
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Dusty, Intuit posted this today, too.
Solved: American Rescue Plan in ProSeries Tax - Intuit Accountants Community
The more I know the more I don’t know.
