Form 1120 Critical Diagnostic

[joerod]

I have the following critical diagnostic in Lacerte and I can't get a resolution form Lacerte.

  IRS interest rate(s) needed for Form 2220. Enter interest rates in Options. [ref. # 25574]

The Lacerte program confirms that the interest rates in Options are up to date. 

[George4Tacks]

Which year are you filing?

[joerod]

2020

[George4Tacks]

Did you make any entries in Screen 4.1 or  4.2 or 5.2 or 11 that might make the program think it is after 3/15? Maybe use Ctrl + W to look at the data for those first few screens. 

You could simply input an interest rate for the next quarter and see if that solves the issue.

Try the new Lacerte Tool Hub https://proconnect.intuit.com/community/help-articles/help/fix-common-problems-and-errors-with-the-l... The FORCE websetup might kick the program loose.

[qbteachmt]

Article:

https://proconnect.intuit.com/community/corporation/help/corporate-diagnostic-ref-25574-irs-interest...

Search function:

https://proconnect.intuit.com/community/tkb/v2_4/choosetemplatepage/board-id/diagnostics/search-befo...

[George4Tacks]

Lacerte needs to hire @qbteachmt and fire the ones that don't know the search function. 

[joerod]

George, thanks. I've checked all of those screens and found no entries that would affect this issue. Lacerte's critical diagnostic is asking for the interest rates to be entered in options. When I attempt to do that, Lacerte says that it is up-to-date. Go figure!

[joerod]

Thanks.  This is the best answer yet. And frankly, after about six calls to Lacerte support and two weeks later I finally overrode the critical diagnostic because my client was tired of waiting for his tax return.  Needless to say I am most disappointed in Lacerte support. This most likely will be a deal breaker in my continuing with Lacerte after 26 years. Last thing I want to do is start over with new software but it sis difficult to accept this lack of support.

[qbteachmt]

The part I followed was: "

4. Enter the Federal rates under the IRS Interest Rates section manually for each period.
5. Scroll down to the State Interest Rates section.
6. Enter the State rates manually for each period.

Note: If the diagnostic is still generating, verify that an interest rate is generating for the filing date you entered on Screen 11, Penalties and Interest. If an interest rate is missing, please make the necessary entry. In some instances, entering a future interest rate may be necessary, please review populated dates on Form 2220.

Example:

The Filing date entered on Screen 11, Penalties and Interest is 12/02, but an interest rate has not been entered in 10/01-12/31, this diagnostic will continue to generate."