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P
pconsolati
Level 2
March 19, 2021
Question

Has anything been done to deal with forgiveness for the Advanced Premium Tax Credit provision that was part of the last stimulus payment

  • March 19, 2021
  • 3 replies
  • 13 views

I have a couple of clients that were hit hard with clawback and were told that there was forgiveness available in the 2021 Stimulus bill.

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3 replies

T
TaxGuyBill
March 19, 2021

You are correct that there is no longer a repayment of the Advance credit on the 2020 return.  However, it will probably be a couple of weeks before the software is updated to reflect that change.

    IRonMaN
    IRonMaN
    Level 15
    March 19, 2021

    "a couple of weeks before the software is updated"

    Bill evidently is a "glass half full" kind of guy 😀

    Slava Ukraini!
    T
    TaxGuyBill
    March 19, 2021

    I saw that Drake said they are "hoping" they will be able to do it in a week or so.  That likely means it would be about 2 weeks (possibly more) for Intuit.

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