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In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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MDAROSA1
Level 3
03-22-2021
03:43 PM
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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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TaxGuyBill
Level 15
03-22-2021
04:07 PM
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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.
