2020 Premium Tax Credit
(Marketplace Health Coverage)
On March 11, 2021, President
Biden signed into law the American Rescue Plan Act which suspends
the repayment of any excess Health Insurance Marketplace premium tax
credit subsidies for tax year 2020. This new law ONLY applies to tax
year 2020.
If taxpayers filed their 2020 federal income tax
return before the new tax law was enacted, the IRS is automatically
adjusting returns for the repayments of the premium tax credit and
issuing refunds. The IRS does not want anyone to file an amended
return to claim a refund for this credit.
