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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- Re: IL-2220 software errors
IL-2220 software errors
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PaulP
Level 1
02-02-2023
08:06 AM
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Have noticed software errors for the S-Corporation Illinois Form IL-2220 in LaCerte.
The Illinois estimates paid in are not showing up as payments in Step 4 of the Form. Also, the prior year overpayment credited to 2022 is not being applied against the unpaid balance in the "Penalty Worksheet 1". This results in a estimated tax penalty that is greater than it should be.
Any idea when LaCerte will be correcting the software?
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JenAnn8
Level 2
03-10-2023
10:38 AM
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We just noticed the same issue. Have you found any resolution or workaround to this problem?
PaulP
Level 1
03-10-2023
10:50 AM
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Where applicable, have forced penalty to 0 and letting IL calculate the penalty. Or calculating the penalty manually and forcing to that amount. Be sure to to pay enough with return to cover the penalty and take it into consideration for calculating estimates for 2023.
