Unemployment and Premium Tax Credit – ARP Act

The American Rescue Plan Act of 2021 makes a portion of unemployment compensation non-taxable for certain filers and eliminates repayment of excess funds received through the Advance Premium Tax Credit.

We ask for your patience while we work closely with the IRS and state taxing authorities to implement any necessary changes.

We know many of you are holding 2020 returns that have unemployment benefits or the Advance Premium Tax Credit. We expect the IRS to issue official guidance on these items in the near future.

For returns that have been filed with these items, we advise that you hold off on filing amended returns until the IRS provides official guidance.