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Level 5
March 22, 2021
Question

Advanced Premium Tax Credit

  • March 22, 2021
  • 1 reply
  • 15 views

Is there a fix coming soon for the removal of the APTC penalty on the Form 8962.

It appears it is another retro 2020 law to not charge penalties for change of income on the Form 8962.

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1 reply

March 22, 2021

There never has been a "penalty" on the 8962 for the Premium Tax Credit.  It is a repayment of a credit that the taxpayer does not qualify for.

Yes, the new law retroactively changed things so there is no repayment.  It will probably be a couple of weeks before everything is ready for that.