On November 9, 2021, the Tax Court issued a Memorandum Opinion in the case of Knox v. Commissioner (T.C. Memo. 2021-126). The primary issue presented in Knox was whether the petitioners are entitled to a premium tax credit (PTC) and, if they are not, whether they are required to repay advance premium tax credit (APTC) payments of the PTC. Held: Yup and yeppers. Background to Knox v. Commissioner The petitioners were (and perhaps still are) old Hoosiers. I’m not sure this ultimately matters, but Judge Jones thought it important enough to mention, so we faithfully report it here. For 2015 they reported $59,000 of Social Security benefits, of which $17,000 and $15,000 were attributable to lump-sum payments relating to 2013 and 2014, respectively. From March through December 2015, Mrs. Knox enrolled in two separate policies through the health insurance marketplace provided by All Savers Insurance Co. (All Savers). Mrs. Knox…