When Will Irs Update form 8962, I am waiting for that to submit tax year 2020
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I'm guessing by 5/17. What is your best guess?
You can look up all projected release dates at https://proconnect.intuit.com/lacerte/forms-finder/
You may want to bookmark this
Then you'll know when something has happened.
I just checked and the 8962 still has the Jan 29th final release date. So this is obviously not an up to date listing.
8962 seems to work fine. Are you sure your program is up to date?
https://proconnect.intuit.com/community/form-1095/help/entering-form-1095-a-in-lacerte/00/5379
What are you seeing that says there is a problem?
My software is up to date, but the ARP from March 11th waives the repayment of the ACA credit. I am not seeing a correction for this change. The listing for the tax forms has the Jan 29th release date for 8962, so it hasn't changed. If you don't have a repayment, it isn't an issue, but I have clients that have a repayment situation this year.
DID you go to the IRS link provided in this thread?
It shows that the IRS hasn't updated the Form 8962 since the March 11th announcement.
Which makes it very difficult for the software companies to do anything, yet.
Yes. I did follow both links in the thread. I was simply commenting that the list in the first link says it is final as of Jan 29th. Not useful to the original poster's question. I realize the software folks can't make changes that don't exist. But I appreciate your response.
I am hoping soon. I see Drake has updated their program today for this. Let's hope Lacerte is by Monday???
That's funny.... IF we get the Lacerte update by Thursday I will be a happy camper.
They are waiving the repayment of premium tax credit. Due to law enacted 3-11-21
Software is updated today, there is no form 8962 and the excess of advance payment APTC is $0, so I can efile today. Thank you Lacerte software
Lacerte now seems to have updated the program for the exclusion of the repayment of the premium tax credit. However, now the Form 8962 isn't included at all with the forms to efile. Also, if the client owes taxes with the filing, the client letter still includes the statement regarding the repayment, even though it is not included in the amount owed. If the client is getting a refund, there is no statement in the client letter regarding the premium tax credit. Any idea why this is? Should the Form 8962 still be included with the filing?
Check out IntuitAustin's post at the bottom of this thread
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