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- Advance Premium Tax Credit repayment and Third Party Sick pay repayment
Advance Premium Tax Credit repayment and Third Party Sick pay repayment
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mcavoym1
Level 1
03-23-2021
10:45 AM
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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 😞
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TaxGuyBill
Level 15
03-23-2021
01:29 PM
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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.
