pmbrou
Level 2
04-16-2020
09:26 AM
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Ex: MFJ paid $2,400 and 2020 AGI less than $150,000 so eligible credit = amt paid of $2,400. So, no repayment will be due on 2020 return.
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itonewbie
Level 15
04-16-2020
09:47 AM
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It will be reconciled on the 2020 return but taxpayers won't have to return any excess. See §6428(e).
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Still an AllStar
Still an AllStar
pmbrou
Level 2
04-16-2020
10:13 AM
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Thanks so much for your quick response!!!
itonewbie
Level 15
04-16-2020
10:15 AM
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NP, @pmbrou!
If it solved your problem, you may consider marking it a solution to help others who may have similar questions. Cheers!
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Still an AllStar
Still an AllStar
BobKamman
Level 15
04-16-2020
12:11 PM
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Who was it here who first asked, "Why are we still getting these questions based on rumors and misinformation, when the barber shops are closed?"
sjrcpa
Level 15
04-16-2020
02:14 PM
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Probably Jeff IRonMan
Ex-AllStar
