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

pconsolati
Level 2

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 Comments 3
TaxGuyBill
Level 15

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
Level 15

"a couple of weeks before the software is updated"

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


Slava Ukraini!
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TaxGuyBill
Level 15

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.