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In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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- I prepared a delinquent 2019 and at the time I had 1 credit for 2019 products. But it was credited from my 2020 purchase credit. How can I fix this problem?
I prepared a delinquent 2019 and at the time I had 1 credit for 2019 products. But it was credited from my 2020 purchase credit. How can I fix this problem?
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Noriko
Level 2
02-07-2021
08:17 PM
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If I work on past year tax returns, will it be always credited from the newest purchased credit such as 2020? Is there any way to avoid this problem in the future?
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1 Comment 1
itonewbie
Level 15
02-07-2021
10:22 PM
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That's been the policy for 2 years now. Credits you purchase for the year automatically expire at the end of the year. Printing or e-filing any return during the year, whether for the current or prior years, will cost you a credit from your account (which will not show any balance from a prior year).
If you have any returns you're working on and can't yet finalize before the end of the year but still have credits left on your account, you should always print a copy to trigger a "purchase" before your credits expire. This way, you can print or e-file them later without having credits deducted from you account in a subsequent year. I also posted a reminder to peer users late last year but you probably didn't notice.
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