Update for Unemployment

[Al Kay]

Has anyone seen the update for unemployment that was supposed to be released for Proseries this afternoon. I have tried both Professional and Basic and it is not there.

[abctax55]

Many have asked in just the last few hours....check out those posts

[Al Kay]

Thanks for replying, however I don't see any other posts on this only more general questions over the last week. Can you please post the links for those posts?

[bethlynnkelly]

I just asked the same question.  Lacerte and Proconnect are updated but possibly not us yet.  What gives?

[Paul-G-328]

I did an update this afternoon and the unemployment changes werent in it. I tried running a few Update Repairs but that didnt help. Im hoping that basic will be updated on Fri. Got a lot of returns to Amend

[abctax55]

@Paul-G-328 

ARE you aware the IRS has specifically said NOT to amend returns for the Unemployment exclusion?

[bethlynnkelly]

I'm fairly certain the update has not happened for Proseries at all yet...based upon my checking, reading and looking at other posts in groups and on here.  I'm holding 22 returns with unemployment eligible for the exclusion.  Yikes.

[bethlynnkelly]

The IRS is going to implement measures on their end to get the unemployment exclusion credit for those who have already filed. Do not amend anything for now❤️

https://www.msn.com/en-us/money/taxes/workers-don-t-need-to-amend-their-taxes-to-get-break-on-unempl...

[bethlynnkelly]

No need to amend per IRS.  https://www.msn.com/en-us/money/taxes/workers-don-t-need-to-amend-their-taxes-to-get-break-on-unempl...

[LilFos]

Well that is good to know. However what about states that, before this exemption, taxed your unemployment, that now require amended status. I am particularly interested in Maryland. Anyone here the latest on what MD will do. Will they follow the IRS plan or require amended returns. I did read where they will perhaps add a Subtraction modification that will exempt the amount of unemployment that was in excess of the federal exemption amount ($10,200) and taxed on the 1040 which in effect will exempt all the unemployment on the state return.

[Clarissa]

I'm not seeing the Unemployment update either on Proseries Basic.

[greenfarms]

I am not seeing any ProSeries Professional update to fix the unemployment exclusion.  I have updated several times this morning only to see no updates available and the same was true last night.  My version is 2020.10.00.13

[Paul-G-328]

Well if thats the case, is the IRS going to Amend all of them and not issue an update for all the ones we're holding and future ones?

[bethlynnkelly]

Just got update!  Only unemployment exclusion.

[Clarissa]

I received the update Saturday.