Premium Tax Credit

[Alfredo1967]

Is the IRS still charging the excess advance premium tax credit for 2021?

[garman22]

they didnt cover that in your CPE class?

[IRonMaN]

I think they were silent on the subject in my class.  However, I thought I saw elsewhere that it had died a natural death in 2020.  Are we going to be quizzing everyone this year about whether something was covered in their class?  If so I sure hope I don't have to ask an actual tax question here because I tend to have a little attention deficit issues and also suffer from a lack of sleep at times so I could have missed something.  Ok, you convinced me.  I'm going to be too afraid to ask a question here for the rest of the year.  I'll just wing it rather than be embarrassed here.

[abctax55]

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@Alfredo1967 wrote:

Is the IRS still charging the excess advance premium tax credit for 2021?

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Charging?  Meaning repaying the subsidy under the appropriate circumstances?

[IRonMaN]

I assumed that's what he meant and I meant the not paying it back thingy died in 2020.

[garman22]

Thats a fantastic idea!! 😂🤣

[IRonMaN]

Ok - done deal.

[garman22]

You know Im just playing with you, right? Your my coyote!!

[IRonMaN]

I never post actual tax questions here so it really wasn’t a threat but I was curious what the response would be if I didn’t use emojis 🤪😜🥸💩🤡😀😆😉

[PATAX]

Cousin Alfredo, yes there is excess Advance premium tax credit repayment this year, and Pro Series does a good job on this. Hopefully federal government will not make any tax changes in the middle of March and make it retroactive like they did last year. Just my opinion.