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M
mcavoym1
Level 1
March 23, 2021
Question

Advance Premium Tax Credit repayment and Third Party Sick pay repayment

  • March 23, 2021
  • 1 reply
  • 13 views

I have a client who received a lump sum settlement from Social Security (making his Advanced Premium Tax Credit repayable).

However he also had to pay back almost $15,000 of third party sick pay that he had received in prior years.  Does this effect the repayment calculation?  I can't find reference to it anywhere 😞

This topic has been closed for replies.

1 reply

T
TaxGuyBill
Level 15
March 23, 2021

The new law canceled repayments of the Advance Premium Tax Credit for 2020.

But you will need to wait a couple of weeks until everything is updated and ready for that.

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