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Level 3
March 20, 2021

How do we eliminate the repayment of the APTC on a 202 return that has not been filed yet?

  • March 20, 2021
  • 1 reply
  • 5 views

For tax year 2020 alone, the ARPA eliminates the requirement to repay an excess APTC. In other words, if a taxpayer’s APTC exceeds the actual PTC, no additional tax is imposed, regardless of household income.

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    1 reply

    itonewbie
    Level 15
    March 20, 2021

    You do so by sitting on your hands.  The IRS will need to update it's filing instructions and work with tax software developers to have the changes approved.

    ---------------------------------------------------------------------------------Still an AllStar