Those who received excess advance payments of the premium tax credit don't have to file Form 8962 to reconcile that amount with the amount of the credit they were actually entitled to, the IRS said in a news release. While people normally must repay credit amounts they received as advance payments that they weren't eligible for, the American Rescue Plan Act
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The Patient Protection and Affordable Care Act
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The IRS also said Friday that people do not have to report excess payments they receive on their Form 1040 for that year. But people claiming a net premium tax credit or those eligible for more of the credit than they received in payments through the year must file Form 8962 for 2020, according to the agency.
--Editing by Vincent Sherry.
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