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Level 1
March 22, 2021
Question

unemployment

  • March 22, 2021
  • 8 replies
  • 27 views

I have 20 clients asking about the states on the deduction of $10200.00 mainly for Iowa & Illinois?

This topic has been closed for replies.

8 replies

The_AntiTax_Man
Level 7
March 22, 2021

@craighartter6349 see the thread:  What about States?

Level 10
March 22, 2021

Not an answer to this question specifically, just an editorial comment on a number of questions on the unemployment subject asked in the last week.

 

If practitioners in individual states cant find out the rules for 1 or 2 states, why is Proseries expected to (in a week) know what each of 40some states is thinking, and also had time to program it even if they could discern each state's intention?

I think some expectations of software providers are close to unreasonable, with Congress unprecidented mid March retroactive tax law changes.

Level 8
March 22, 2021

See here on IL:

https://www2.illinois.gov/rev/Pages/American-Rescue-Plan-Act-of-2021---Nontaxable-Unemployment-Benefits.aspx

Please call Pritzer's office and tell him to get his Dept of Revenue's act together.  It isn't that hard, especially since they have known it was coming for over two weeks and it has been official for 11 days already.

This is not a ProSeries matter at this time, at least with respect to IL.

 

 

BobKamman
Level 15
March 22, 2021

I think his name is Pritzker, and when I lived in Illinois it was the Legislature, not the governor, that wrote tax laws. 

Well, actually, it was the mayor of Chicago who wrote tax laws but the Legislature had to vote on them. The governor did have to sign them, if he wasn't yet in jail.  

Level 2
March 22, 2021

he Kiplinger letter had some information on States they keep updating so not all states are 

done. https://www.kiplinger.com/taxes/state-tax/602307/taxes-on-unemployment-benefits-a-state-by-state-guide

The states that are doing the same as Federal are listed 

Level 2
March 23, 2021

I received an answer to my query to the State of Missouri and they are doing the same as Federal with the

unemployment so they are exempting the 10,200.00