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Repayment of excess advance premium tax credit?

Heather M
Level 1

Has any one figured out a way to elect out of the repayment, or are we still waiting on an update from proseries?

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0 Cheers
5 Replies 5
IRonMaN
Level 15

There was an update a couple of days ago.  Go to your computer start menu and click on ProSeries and then click repair updates -------- unless you just haven't run an update in the last couple of days.

I'm keeping this job. But I am selling surplus anvils on the side. If you are interested please call 867-5309
jeffmcpa2010
Level 8

I just opened a previously filed return and it shows that change and pulls up a 1040X showing the reduction in tax. The amount of excess credit repayment is gone from schedule 2.

Ive been doing some "Google Research" and I cannot tell if the IRS has issued the expected guidance on this issue: re: whether to amend, or wait and see if the IRS is able to make automatic changes - like they are supposedly doing for the Unemployment.

 

 

dkh
Level 11
jeffmcpa2010
Level 8

DHK

Thankyou for that - I actually got to call a client today and tell them not to mail that $5K + check!

I enjoy those phone calls and really made her weekend as well.

qbteachmt
Level 15

"and I cannot tell if the IRS has issued the expected guidance on this issue"

You don't need Google.

Are you signed up for e-newsletters? These come directly to you at the same time they post it on the web.

https://public.govdelivery.com/accounts/USIRS/subscriber/new?preferences=true

 

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